Tata Steel, Rio Tinto To Develop Eco-Friendly Iron Smelting Process
20 Aprile 2011 - 5:37PM
Dow Jones News
Tata Steel Ltd. (500470.BY) Wednesday said it has signed a pact
with Rio Tinto Ltd. (RIO.AU) to develop an environmental friendly
direct iron smelting process called as HIsarna.
Under the pact, the two companies will work together to develop
the HIsarna ironmaking process, which consists of two technologies
owned by Tata Steel and Rio Tinto, the company said in a statement
issued late Wednesday.
At present, Rio Tinto is interested in full control of
Australian mining company Riversdale Mining Ltd. (RIV.AU). Tata
Steel, which owns about 27.1% stake in Riversdale has, however, not
sold out its stake to Rio Tinto.
Earlier Wednesday another major shareholder, Brazilian steel
producer Cia. Siderurgica Nacional (SID), agreed to sell its 19.4%
stake to Rio Tinto.
-By Prasenjit Bhattacharya and Ashutosh Joshi, Dow Jones
Newswires; +91 22 6145 6120; ashutosh.joshi@dowjones.com
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