JSW Steel Ltd., India's largest steelmaker by capacity, secured rights to develop a coking coal mine in Mozambique's Tete province, according to Bloomberg Markets. The acquisition gives the company direct access to a critical raw material used in steel manufacturing.

The Tete province coal project represents a strategic move for JSW Steel to secure its supply chain. Coking coal is essential for steel production, and having direct control over mining operations could provide cost advantages and supply stability compared to market purchases.

This development comes as steelmakers globally seek to secure raw material sources amid supply chain uncertainties. For JSW Steel, the Mozambique mine could strengthen its competitive position in the Indian steel market while potentially supporting expansion plans. The company's ability to vertically integrate its coal supply marks a significant step in its operational strategy.