Steel Giant Secures Future: Tata Steel's Strategic Moves in Iron Ore Procurement

Tata Steel discusses with NMDC and OMC for securing future iron ore supplies, while operationalizing new mines, aiming to boost its steel production capacity to 40 MTPA by 2030. The plan includes contingencies for expiring leases, enhancing domestic iron ore output, and ensuring stable material procurement.

Tata Steel is in talks with state-run miners NMDC and Odisha Mining Corporation (OMC) to ensure a steady supply of iron ore, vital for its plan to expand domestic production capacity.

In addition to optimizing current resources, Tata Steel will operationalize the Kalamang West and Gandalpada mines to bolster raw material security as part of its strategy to meet growing domestic demand.

The company aims to increase its steel production capacity to 40 million tonnes per annum by 2030, an ambitious expansion from the current 22 million tonnes, by enhancing procurement and optimizing resource utilization.

(With inputs from agencies.)