BS reported that TATA Steel is eyeing CSN's Nacionale Minerios a fully integrated iron ore company, which has recently announced that it is looking at a potential sale of a portion or all its shares of Namisa.

Te report cited a TATA Steel as saying that "TATA Steel has several opportunities before it and it will evaluate each of these for their strategic fit with our growth plans before deciding on any course of future action vis à vis the opportunities."

Currently, Namisa's iron ore sales and exports are to the tune of 14 million tonnes and the plan is to take it to 40 million tonnes by 2012. Apart from the mining rights, Namisa has access to railway transport and port to sell or export its production.

CSN has retained Goldman Sachs as its financial advisor in connection with the potential sale.

If the bid materializes, this would be the first acquisition of a developed mine by a Indian steel player as so far, the acquisitions have been for exploration and development of mines.