Posted on 25 Sep 2008
Tata Steel's Singapore-based subsidiary TS Global Minerals Holdings purchased 13,705,000 shares, representing 7.29 per cent stake in the Australian firm which owns coal blocks in mineral-rich
According to the information available with the Australian Securities Exchange, the arm of the Indian steel major has increased its shareholding in the mining company to 42.3 per cent from 35 per cent, since the joint venture was formed last year. A Tata Steel spokesperson confirmed the move but declined to reveal any details.
