UwidoNews

Tata Steel Ltd has secured equity interest in an iron ore deposit in South Africa, from which it expects to mine 2 million tonnes of ore a year starting 2010.“The Sedibang mine (in South Africa) is a small one, which has a reserve of about 50 million tonnes,” Tata Steel’s managing director B. Muthuraman said at a press conference in Kolkata on Friday.
Read at http://www.livemint.com/2009/04/11091157/Tata-Steel-to-begin-production....

Tata Steel, the country's leading steel producer, sees its sales volume surging by nearly 50 per cent to 1.6 million tonnes in the fourth quarter of this fiscal on the back of an improved demand.
"In January-March, we plan to sell 1.6 million tonnes of steel, which is 50 per cent higher than the October-December volume of 1.1 million tonnes," Tata Steel Managing Director B Muthuraman told reporters after announcement of the company's consolidated third quarter results.

Since the second quarter of this year global iron ore consumption and steel production have been heading higher, a trend Resource Capital Research (RCR) suggests has been driven by strong Chinese demand, cuts to iron ore production levels and increasing levels of optimism on the part of consumers.

Increase in the demand for steel in the domestic market coupled with reduction in the iron ore export can help India match China in the production of the metal, steel industry players have said. While the steel industry is lobbying for imposition of export tax on iron ore exports from the country, the exporters are fighting for more leeway in the exports.

Tata Steel Limited India’s biggest steelmaker, raised $500 million in a sale of global depositary receipts to fund domestic expansion and mining ventures overseas.

Tata Steel on Friday said it witnessed 9 per cent rise in sales at 5.56 lakh tonnes in January on the back of improved demand from the construction and white-goods sectors.The companys January sales last year stood at 5.11 lakh tonnes.

Tata Steel completed the second quarter and first half of FY'10 on a buoyant note with a considerable increase in its production and sales

India's Tata Steel Ltd (TISC.BO), the world's sixth-largest steel maker, posted a consolidated quarterly profit on Friday, beating forecasts of a loss and lifting its shares in a weak market.

India's iron ore trade has slowed in recent weeks amid fears that the government may again hike export duties to calm prices -- a move that will cheer steel firms and allay their concerns of rising raw material costs."Price is at the heart of everything. Steel companies will be wanting lower prices of raw material, while iron ore companies will try to push up prices," said Sanjeev Panda, analyst at Karvy Stock Broking.