Tata Steel Cote d’Ivoire SA (TSCI) has taken a step forward with its plans for development of Iron ore projects in Cote d’Ivoire with its new Head office being inaugurated by the Mr. MONNET Leon Emmanuel, Hon. Minister of Mines and Energy, Republic of Cote d’Ivoire, represented by Madam Francoise Kadio MOROKRO, Director of Cabinet and Dy Minister of Mines and Energy, Republic of Cote d’Ivoire at 04:00 PM today. TSCI was formed in May 08 after the Joint Venture agreement signed between Tata Steel Limited and SODEMI in Dec 07. The program was attended by key officials from Ministry of Mines, Environment and Chief Executives of SODEMI and many other companies.

Mr. MONNET Leon Emmanuel, Hon. Minister of Mines and Energy expressed happiness and said, “The Government of Cote d’Ivoire is very happy that a Company like Tata Steel which has the technical and financial capability along with the experience to undertake large Mining projects will be working with us”. He also appreciated the progress made by TSCI in setting up a good office in Abidjan and put in place a technical team to start work. He assured that necessary permits for start of work will be issued to the company shortly.

TSCI spokesperson commented that the company is fully geared for exploration and feasibility study as soon as the permits are granted and expressed confidence that the work will start quickly. “It is Tata’s philosophy to participate in the country’s development process and Tata Steel, through its well known social initiatives will make a very positive impact on improving the quality of life of the people of Ivory Coast. We value our partnership with SODEMI and the Government of Ivory Coast”, he added.

The Tata Steel – SODEMI Joint Venture is now awaiting for the Government of Ivory Coast to award the exploration license with the permission to start work. The initial phase will involve exploration and detailed feasibility assessments followed by construction of the mine and beneficiation facilities. The iron ore from this project will be supplied to Tata Steel Group facilities in Europe. Tata Steel had indicated its plans for investing over a billion USD if the project is found feasible.

About Tata Steel
Tata Steel, established in 1907 is Asia’s first and India’s largest integrated private sector steel producer is the world's 6th largest steel producer. With the recent acquisition of Corus, the combined enterprise has a total crude steel production capacity of around 30 million tonnes and over 82,000 employees across four continents. Tata Steel has operations in 27 countries and is the second most globally diversified steel group. Tata Steel commits in its new group vision “We aspire to be the global steel industry benchmark for Value creation and Corporate Social Responsibility”.