India’s Tata Steel Limited has entered into an agreement to acquire 50 percent of the equity stake in S&T Mining from its joint venture partner government-run steelmaker Steel Authority of India Limited (SAIL), a Tata Steel statement said on Thursday, April 7.
Following the acquisition of the equity stake, S&T Mining will become a fully-owned subsidiary of Tata Steel.
S&T Mining was formed in 2018 as a 50:50 joint venture of Tata Steel and SAIL, engaged in mining service consultancy, mining project evaluation, mineral exploration, coal mining and coal beneficiation.