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Tata Steel on Thursday said it has signed an agreement with A&B Global Mining to harness new business development opportunities and deliver mine technical services. The steel major will closely work with ABGM India which will interface with their South African entity to explore business opportunities in India and abroad besides utilise each other's technical and strategic strengths to deliver projects across the mining and metals, including the steel value chain, a company statement said.

ABGM will also collaborate with Tata Steel to deliver competitive integrated business solutions to the global mining industry, it said.

"We started offering mine technical services commercially to the mining industry along with our partners, and this agreement will further complement our capabilities and capacities to raise the standards of such services in India in particular and internationally in general for more scientific and sustainable mine development," Tata Steel vice president (raw materials) D B Sundara Ramam said.

He also mentioned the company is in the mining business for more than a century with its natural resource division, providing various exploration and mine planning services to its captive mines for sustainable practices.

A&B Global Mining managing director Devendra Vyas said, "We are pleased to be working in collaboration with Tata Steel to deliver mine planning, engineering and project management services, including customised end-to-end solutions to clients."

He also said this agreement is the foundation for a strong partnership and compliments the company's efforts to diversify its services to wider stakeholders in the industry and accelerate growth across commodities and geographies.