Tata Steel is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure raw material security for its European operations. Tata Steel Europe, which controls Corus’s operations, had imported around 22 million tonnes of iron ore and 11 million tonnes of coal in FY’09.
While iron ore was imported from Australia, Canada, South Africa and South America, coal principally came from Australia, Canada and the US. Uk-based Corus, which Tata Steel had acquired for USD 12 billion in 2007, does not have captive iron ore and coal resources.
The Tata Steel Group is self-sufficient to the extent of 25 per cent for its iron ore requirements, which is likely to go up gradually to 62 per cent by 2015 as its mines in Canada and Ivory Coast start production.
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