Tata Steel Partners with NMDC, OMC to Secure Future Iron Ore Supplies
Tata Steel is actively engaging with state-run miners, NMDC and Odisha Mining Corporation (OMC), to secure its future iron ore supply as it expands its steel production capacity. The company plans to operationalize new iron ore mines, Kalamang West and Gandalpada, as part of its strategy to secure raw materials for the long term.
Tata Steel currently meets its iron ore needs from six operational mines in Odisha and Jharkhand, but as the leases of four mines are set to expire by 2030, the company is exploring new sources to ensure a steady supply of iron ore.
The company plans to begin production at Kalamang in the fourth quarter of the financial year and at Gandalpada by 2029. These two mines, along with its existing assets, are expected to meet 50% of Tata Steel’s iron ore needs, while the rest will be procured from NMDC and OMC.
Tata Steel aims to increase its steel production capacity from 22 MTPA to 40 MTPA by 2030, and to achieve this, the company plans to produce over 60 million tonnes of iron ore annually.
Related Stories
Design Flaw Stalls New Four-Lane Bridge Project in Jamshedpur
The state government has allocated Rs 440 million for the bridge's construction.
Tata Steel Penalised Rs 146 Mn For Late Stamp Duty Filing
The penalty is towards the belated filing of stamp-duty application.
Tata Steel Reports 8% Rise in India Sales for Q3 FY25
Sales in automotive and special products segment rose 3% to 2.3 mt.
Page {{currentPage}} of {{pageCount}}
{{copy}}