Tata Steel Ltd will use the $1.12 billion ('5,030 crore) it earned from the sale of its 26.3% stake in Australia's Riversdale Mining Ltd to fund the expansion of its steel-making capacity in Jamshedpur and Kalinganagar, as well as mining operations and capital expenditure in its European operations.

Imperial Petroleum, Inc. announced that its subsidiary, Arrakis Oil Recovery, has successfully completed commercial scale demonstration tests for multiple parties on oil sands from various locations.