New Delhi, March 3 (BharatNeeti Correspondent): Tata Steel has approached mining giant NMDC with objective to maintain its iron ore supplies for production of steel at its plants in Jharkhand and Odisha.
NMDC, under the Chairmanship of Amitava Mukherjee, is India’s largest iron ore mining entity. The Hyderabad-based company alone caters to a significant portion of the country’s overall demand for the ore.
Tata Steel operates some captive iron ore mines. The company mines out iron ore and makes steel. But leases for four mines including Noamundi are expiring in 2030. Post expiring of the leases, the mines will go for auction process. This could affect Tata Steel’s expansion plans.
“There is only company in the country which can support Tata Steel for their entire iron ore demand. It is NMDC. Tata Steel has approached NMDC. Both are discussing future iron ore demand and supply,” sources said.
NMDC is the sixth largest iron ore producer in the world.
Besides iron ore, the company has been involved in exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country.
