 | « Back to article | Print this article |
The company will acquire five per cent stake in the Carborough Downs coal project, which is owned and operated by AMCI Australia Pty Ltd, a subsidiary of AMCI Holdings, Tata Steel informed the Bombay Stock Exchange.
The company also signed an offtake agreement for a proportion of the production over the life of the project, it said.
The project life is estimated to be 14 years and approximately 58 million tonnes of raw coal is expected to be mined during this period.
There is a further potential resource of 100 million tonnes of raw coal in the unexplored areas and deeper seams, it added.