Tata Steel Ltd., India's largest steel maker, obtained the company's first licence to mine in Britain as part of a plan to produce its own raw materials. Tata's Corus Group PLC unit will explore and may develop an underground mine at Margam, Wales, spokeswoman Annanya Sarin said in an interview yesterday from London. The company, which has a steel mill in Wales at Port Talbot, may invest in iron-ore assets, she said, without specifying where. ''We currently import all our coal requirements and we are looking at a number of alternatives,'' Ms. Sarin said. Work to determine Margam's grades of coal will last up to a year, she said. Benchmark coking coal contract prices tripled this year to a record. TATA (Mumbai) fell 20.9 rupees to 797.35 rupees ($19.81).
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