Tata Steel eyes to takeover iron ore mine in Australia
In order to secure iron ore supply for Corus, Tata Steel is aiming to acquire an iron ore mine in Western Australia, according to recent report.As the world’s sixth largest steelmaker, Tata Steel is not only searching for iron ore mines in Australia, it also shows interest in reserves in South Africa and other regions. The company also decides to establish oversea company to integrate its raw material assets and increase funds in next 12- 16 moths for acquisitions.Tata is one of lowest cost steelmakers since it has full access to its own iron ore and coal mines but it does not export iron ore to Corus which has no captive iron ore mine.
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