Tata Steel eyeing manganese JV in S Africa

Tata Steel is planning to acquire manganese mines in South Africa and is likely to float a joint venture with a South African company, P Roy, executive in charge of ferro alloys & minerals said on the sidelines of a seminar on Indo-Africa project partnership, organised by the Confederation of Indian Industry (CII), here today.

Besides manganese, the company is also looking for coal blocks in South Africa. "We are looking for 2-3 manganese blocks in South Africa apart from coal blocks. Iron ore availability is not much in that country and most of the mines had already been tied up," Roy said. Tata Steel had already acquired ferro chrome mines in the country.

Tata Steel already has an agreement with AMCI Australia for a 5% interest in Carborough Downs Coal Project in Queensland, Australia. The Carborough Downs coal project is majority owned and operated by a subsidiary of AMCI Holdings Australia, AMCI International AG.

Commenting on the ferro chrome project, he said the foundation stone laying of the project would be in third week of this month. "The production in those ferro chrome mines will start from October next year," he added.

The company has planned projects in Bangladesh for coal, limestone in Oman, iron ore in Iran and South East Asia.

All the raw material projects are close to the locations where the company is looking at setting up steel plants. The move is in tandem with the company's strategy of having primary steel making in countries rich in iron ore and coal and gas, a company spokesperson said.