India’s Tata Steel acquires additional equity stake in mining arm

Thursday, 16 June 2022 12:27:12 (GMT+3)   |   Kolkata

India’s Tata Steel Limited has acquired an additional equity stake in Tata Steel Mining Limited (TSML) to make it a wholly-owned subsidiary, a company regulatory filing said on Thursday, June 16.

According to the filing, the additional equity stake was acquired by Tata Steel through a rights issue of equity shares of TSML.

TSML is a global supplier of raw materials for stainless steel, alloy steel and refractory manufacturers and currently operates three chromite mines and one ferroalloy plant and has partnerships with eight external ferro processing centers for the manufacturing of ferrochrome.

AjoyDas
Ajoy Das
Editor

I graduated from the University of Kolkata with a degree in economics and have three decades of experience in reporting for leading print media publications, covering key manufacturing industries like iron and steel, energy (fossil and renewable), chemicals and petrochemicals and mining sectors (coal, bauxite, iron ore and copper). I work as a correspondent for SteelOrbis reporting on the Indian steel industry covering pricing and trade trends across the value chain, capacity creations and utilizations, corporate developments, government policy frameworks and industry related news.

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