Tata Steel Partners with NMDC, OMC to Secure Future Iron Ore Supplies

18 Dec 2024 CW Team

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.

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