Corus UK signs supply order with Vale for iron ore

Mumbai: Tata Steel Group subsidiary, Corus UK and Companhia Vale do Rio Doce (Vale) have signed a contract under which Vale will supply Corus' plants in Europe with almost 63 million metric tonnes of iron ore over five years.

The contract will come into effect in 2009.

Corus chief executive officer Philippe Varin said,' This contract complements the raw materials strategy for Tata Steel Group's Europe operations of combining external sources with future captive supplies.'