Jamshedpur, Oct 09: Tata Steel has submitted a proposal to the Jharkhand government for a joint venture to start iron-ore mines business in the state. ''We have proposed to tie up with the state Mineral Exploration Corporation and suggested to supply iron-ore to meet local demands and also market the surplus outside. The proposal is under consideration of the state government,'' Tata Steel Deputy managing director Arun Narayan Singh said here on Wednesday.

Tata Steel, which has been operating captive coal and iron-ore mines for its steel plant here, had earlier announced plans to diversify into mineral exploration to set up mineral based industries in Jharkhand.

Singh said the company would come out of National Coal Wage Agreement as well as the Steel Wage Agreement that have lost relevance in the new economic set up.
Singh, chairman of Jamshedpur Utility and Services Company (Jusco), a 100 per cent subsidiary of Tata Steel, said the new subsidiary company was likely to start business from the end of this year. Bureau Report