<p>New Delhi: Planned job cuts in Britain by India's Tata Steel were the "least bad option," and the company will continue to hold talks with unions and hopes to reach a conclusion over the next two months, CEO T V Narendran said.</p>.<p>The steelmaker will close its two blast furnaces in Britain by the end of this year, axing up to 2,800 jobs at its Port Talbot steelworks in Wales.</p>.<p>The plan, however, has been rejected by three trade unions - Community, Unite, and GMB - who said they would consult members on next steps, including industrial action.</p>.<p>"We are expecting the unions to also think through the consequences of some of the actions, because ultimately this is not a business which is making money and trying to restructure, it is losing a lot of money," Narendran told Reuters in an interview.</p>.<p>"Do you want to lose even more money? And does that help? It's not a happy conversation, but it's a necessary conversation," he said, adding that the company will deal with the situation as it evolves.</p>.<p><strong>INDIA'S CRITICAL MINERALS, STEEL DEMAND</strong></p>.<p>The steelmaker is also looking at India's ongoing auction of critical minerals, the first part of which is underway for an estimated $5.4 billion and includes minerals such as lithium.</p>.Tata Technologies Q3 PAT rises 14.72% to Rs 170.22 cr.<p>"We are just looking at all the minerals being listed, looking at the documents, looking at the reserves, seeing if anything is of interest and then we will decide," Narendran said.</p>.<p>The steelmaker expects India's steel demand to be strong, with growth expected in automotives and construction, alongside railways and oil and gas sectors.</p>.<p>Separately, Narendran said he expects continued volatility in prices of coking coal, a key steelmaking raw material, with prices moving in the $270-$350 per ton range. </p>
<p>New Delhi: Planned job cuts in Britain by India's Tata Steel were the "least bad option," and the company will continue to hold talks with unions and hopes to reach a conclusion over the next two months, CEO T V Narendran said.</p>.<p>The steelmaker will close its two blast furnaces in Britain by the end of this year, axing up to 2,800 jobs at its Port Talbot steelworks in Wales.</p>.<p>The plan, however, has been rejected by three trade unions - Community, Unite, and GMB - who said they would consult members on next steps, including industrial action.</p>.<p>"We are expecting the unions to also think through the consequences of some of the actions, because ultimately this is not a business which is making money and trying to restructure, it is losing a lot of money," Narendran told Reuters in an interview.</p>.<p>"Do you want to lose even more money? And does that help? It's not a happy conversation, but it's a necessary conversation," he said, adding that the company will deal with the situation as it evolves.</p>.<p><strong>INDIA'S CRITICAL MINERALS, STEEL DEMAND</strong></p>.<p>The steelmaker is also looking at India's ongoing auction of critical minerals, the first part of which is underway for an estimated $5.4 billion and includes minerals such as lithium.</p>.Tata Technologies Q3 PAT rises 14.72% to Rs 170.22 cr.<p>"We are just looking at all the minerals being listed, looking at the documents, looking at the reserves, seeing if anything is of interest and then we will decide," Narendran said.</p>.<p>The steelmaker expects India's steel demand to be strong, with growth expected in automotives and construction, alongside railways and oil and gas sectors.</p>.<p>Separately, Narendran said he expects continued volatility in prices of coking coal, a key steelmaking raw material, with prices moving in the $270-$350 per ton range. </p>