Tata Steel is one of the largest steel manufacturer in the world. Tata Steel plans cooperation with mining companies in Vietnam and South Africa to develop iron ore mining exploration and coal. Cooperation aims to obtain supplies of iron ore and coal mines as a source of raw material that supports the production of steel from Tata Steel company.

Tata Steel reported, “We have a selection of South African iron ore mines to enter a joint venture with the promoter. This project is under evaluation.”

Tata Steel will also take a minority stake in iron ore mines in Vietnam JV to feed the proposed steel unit in there. “Tata Steel will take 30% stake in Thach Khe iron ore mine which is about 60 km from the steel project,” the report adds.

Steel makers in 2007 signed an agreement with Vietnam Steel Corporation to build the plant. Tata Steel will have a 65% stake in the JV. South African mines will serve primarily to European steel company Corus, which has no raw material security.

Apart from the two mines, the company is also evaluating mineral projects in Brazil and Australia, the report said, adding that “to enrich the supply of raw materials”, it has established a joint venture in Queensland, Australia and Thailand.

Has entered into a JV with Australia-based Riversdale Mining for coal from Benga in Mozambique, where production is scheduled to begin in 2011. The possibility to produce more than 20 mt of coal a year.

Tata Steel also has a jv with the new millennium capital corp in canada, with the option to acquire 80 percent of the direct shipping ore project. It has reserves estimated at 100 million tonnes of iron ore.

With a proposed plan to expand the resource base, the steel system aims to take the raw material security group to 50 percent in 2015 increased to approximately 60 percent in 2018 from the current level of 25 percent.

Find More Other News : Coal, Iron Ore, Mineral Exploration, mining companies