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Tata Steel subsidiary wins mining lease for Saruabil block

Tata Steel subsidiary wins mining lease for Saruabil block

In an e-auction conducted by  the Government of Odisha for grant of mining lease for the Saruabil Chromite mining block, T S Alloys, a wholly-owned subsidiary of the Tata Steel, has been declared as the successful bidder. In a filing to BSE, Tata Steel informed that its subsidiary T S Alloys Ltd has won a licence for a chromite ore mine in Odisha for 50 years. The Government of Odisha had undertaken an auction process for the grant of mining lease for the Saruabil Chromite mining block.

“We have been informed that the Government of Odisha has issued to T S Alloys Limited, a wholly-owned subsidiary of the Company, a Letter of Intent dated January 6, 2020, as the Successful Bidder for grant of mining lease for 50 years, subject to fulfilment of certain conditions,” Tata Steel in the filing.

The mining right is currently held by Misrilall Mines.

@EPC World Media



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