India Tata Steel to buy 35 pct in Mozambique project

(Reuters) - India's top private steel maker Tata Steel Ltd. said on Friday it would spend A$100 million to buy a 35 percent stake in a Mozambique coal project run by Australia's Riversdale Mining Ltd..

Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.


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Mozambique rail firm keen to cut Spoornet wagon link

(Reuters) - Mozambique's state-run railway company said on Friday it was investing $30 million to upgrade its commercial fleet in a move to cut $100 million in wagon hiring fees charged by South African rail freight firm Spoornet.

CFM, which operates the African nation's railways and ports, plans to refurbish 820 refurbished wagons with the investment, more than doubling the current number that travel lines to South Africa and Zimbabwe, spokesman Antonio Libombo said.


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