TISCO acquires stake in Australian coal mines
Indian steel producer Tata Iron and Steel Corporation (TISCO) announced yesterday that it acquired a 5 percent stake in Carborough Downs coal mines operated by AMCI Australia Pty in Australia's Queensland province. The project is estimated to last 14 years and approximately 58 million tons of raw coal is expected to be mined during this period. The company did not reveal the cost of the agreement. TISCO will use the low-ash coking coal from the mine for its capacity expansion plans.TISCO acquires stake in Australian coal mines
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