Tata Steel eyes Australian coal mine
05 March 2007
According to media reports Tata Steel Ltd has put in a proposal to acquire a coal mine in Australia and is keen to buy companies that would enable it to acquire raw material supplies.
Tata Steel is keen to expand its raw material supplies in the wake of its emergence as the world''s fifth largest steel maker with its acquisition of the Anglo-Dutch Corus Group in an auction against Brazil''s CSN on 31 January with a $12.11-billion bid.
Ratan Tata has been quoted as saying that Tata Steel was keen to align its operations with Corus and buy or collaborate with coal and iron ore producers.
Aa report in The Economic Times, has quoted Tata as saying, "With Corus, our plan has now acquired global components. We have put in a proposal for a coal mine in Australia. We are scanning for possibilities elsewhere across the world also," the paper quoted Tata as saying.
($12 billion) that will make it the world''s fifth-biggest steel maker.