Tata Steel, Vale to invest Rs 1,555cr in Aus

Mega expansion work planned at Carborough Downs, starting later this month. As part of its efforts to ensure raw material security, Tata Steel along with Brazilian mining giant Vale and other joint venture partners, is undertaking a massive expansion of the Carborough Downs coal mine near Moranbah in Central Queensland, Australia, for an investment of $379.41 million (about Rs 1,555 crore).