Tata Steel subsidiary and pig iron manufacturer Tata Metaliks Ltd has obtained a license to prospect for iron ore at a mine in the western state of Maharashtra. Iron ore obtained from the mine would be used for its proposed 800,000-tonne capacity steel unit in the southern state of Karnataka. The company has also been promised
700 acres of land in Karnataka for the project. The company is expected to start the work of prospecting in a couple of months. Tata Metaliks reported a profit after tax of Rs 20.23 crore on sales of Rs 311 crore for quarter to March 31, 2008, against a PAT of Rs 15.36 crore on sales of Rs 238 crore in the same quarter of the previous year.