Tata Steel may look at commercial mining as a business opportunity, drawing on its expertise in the exploration and production of coal and iron ore for more than a century. The company is exploring the possibility of entering the merchant mining space and bidding for mines when they are put up for auction. Mr Koushik Chatterjee, executive director & CFO of Tata Steel said that “It is important for us to look at mining as an area. This is what we are evaluating just now to see how we can get into mining as a business and focusing on India.”
The company is the second largest miner of iron ore in India after NMDC. The mines, spread across Jharkhand and Odisha, are for captive use, feeding its plants at Jamshedpur, Kalinganagar and Angul. Tata Steel also mines ferro alloys such as chromite and manganese for captive use. Some bit of the production is also sold in the market. In 2018-19, Tata Steel mined 23.3 million tonnes of iron ore and 6.54 million tonnes of coal, meeting 100 per cent and 27 per cent of its requirements, respectively.
Source of information