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.
Mumbai: Tata Steel on Saturday celebrated the 119th birth anniversary of the Tata Group's late iconic leader and aviator, Bharat Ratna JRD Tata, with a series of events held at various locations across the company.