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Tata Steel to bid for iron ore mines ahead of expiry of leases in 2030

Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines Joda East, Noamundi, Katamati, and Khondbond that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel s ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.

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Back on Growth Path- Business News

After a prolonged downturn, India s steel industry is set for good times. But it may have to expand quickly to meet the expected spike in demand

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Back on Growth Path- Business News

Back on Growth Path- Business News
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Investor confidence in Tata Steel gets a boost on strong earnings of group firm

Investor confidence in Tata Steel gets a boost on strong earnings of group firm Premium 1 min read Though European operations have been a drag for Tata Steel, rising steel prices should boost the company’s prospects. The major trigger for the stock though can be provided by the sale of its Netherlands business that will aid debt reduction too Share Via Read Full Story MUMBAI: The strong performance of Tata Steel Long Products Ltd for the December quarter, boosted marker sentiment for Tata Steel Ltd as well. On Friday, when broader indices were in the red, the Tata Steel stock traded higher. Shares of Tata Steel Long Products rose more than 8%.

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