Tata Steel and JV partners to invest in coal

Tata Steel, Vale, Nippon Steel Corporation, JFE Steel and JFE Shoji will undertake a large scale expansion of the Carborough Downs mine near Moranbah in Central Queensland in Australia, at a cost of $401 million (Rs 1,565 crore).

Carborough Downs is an underground mine operated by Carborough Downs Coal Management Pty Ltd, owned 80 per cent by Vale and its joint venture partner, Tata Steel, Nippon Steel Corporation, Posco have a share of five per cent each, whereas, JFE Steel and JFE Shoji have 2.5 per cent each.

Construction for commencement of the project was scheduled for May 2008 and commissioning of the new mining equipment (Longwall), which would be one of the largest in Australia was expected by mid-2009.