International Venture for $390 Million Australian Coal Mine Expansion

JOHANNESBURG--May 9, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--The international bonding of coal mining interests between iron ore miners and steelmakers is demonstrated in the forming of an Australian-based joint venture between Brazilian mining giant Vale (NYSE:RIO) (Rio de Janeiro, Brazil) (80%); Tata Steel (Bombay, India) (5%); Japan's Nippon Steel(5%), JFE Steel (2.5%), JFE Shoji (2.5%); and South Korean steel major Posco (NYSE:PKX) (Seoul) (5%). The mine is operated by Carborough Downs Coal Management.