Tata Steel targets Brazil iron ore assets of London Mining
Tata Steel, the world's sixth-largest steel maker, is looking to acquire Brazilian iron ore assets of the UK-based London Mining (LM), which will help ensure raw material supply for its Anglo-Dutch subsidiary, Corus. The valuation of the asset is yet to be completed, but analysts said, it would be in the range of $2 billion. Tata Steel is among various global steel and mining majors that have shown interest in acquiring the assets after London Mining said it was reconsidering its investments in Brazil last month.