Bhubaneswar: Indian Steel giant Tata Steel has retained the Sukinda Chromite mines in Odisha. T.S. Alloys a fully owned subsidiary of Tata Steel has secured the mines after committing to pay 93.7% premium to the Odisha government, a senior official in the Steel & mines department said.
Apart from TS Alloys, companies like JSW Steel, Vedanta and JSPL were in the race for the Sukinda Chromite mines spread over an area of 406 hectres in Jajpur district.This is the 3rd mining block TS. Alloys have secured after Sarubil and Kamarda Chrome mines.
Meanwhile, the auction for Guali Iron Ore mines will be held tomorrow. As many as 14 companies including JSW, JSPL, Adani group, RP Sao, KJS Ahluwalia are in the race to bag the Iron Ore mines located in the Keonjhar district of Odisha. The mines has an estimated Iron Ore reserve of 195 million tonnes.
TS Alloys produces High Carbon Ferrochrome, utilised for making high quality stainless steel, from its 50,000 TPA( Tonnes per annum) plant in the Cuttack District. Tata Steel had acquired 100% stake of the plant from Kolkata based Rawmet Ferrus Industries in 2013. Apart from domestic consumption, TS Alloys exports high carbon Ferrochrome to international clients like POSCO, NIPPON Steel and JFE.
Odisha, which holds 97% of India’s Chrome reserve, is the top Chomite Ore producer of the country. Apart from ferro-alloys producers like Tata and IMFA, state owned OMC sells Chrome Ore to domestic ferro-alloys producers.