B Muthuraman, the managing director of I

B Muthuraman, the managing director of India's largest steel maker Tata Steel Ltd, speaks at a press conference in Sydney, 30 November 2007. India's Tata Steel signed, 30 November, a joint venture with Australia's Riversdale Mining to develop a hard coking and thermal coal project in Mozambique, company officials said. Tata Steel is to pay around 100 million Australian dollars (88 million USD) to acquire 35 percent of Riversdale's Benga and Tete licences in the southern African country, which is developing into a region of increasing significance for coal. Coking coal derived from this venture will be delivered to Tata Steel's facilities in Europe, Asia and elsewhere. AFP PHOTO/Greg WOOD (Photo credit should read GREG WOOD/AFP via Getty Images)