slated to secure its long-term iron ore supply, Tata Steel has partnered with key miners NMDC and OMC

Tata Steel has ventured to secure its iron ore requirements for the long term by partnering with NMDC (National Mineral Development Corporation) and Odisha Mining Corporation (OMC). The company has signed a memorandum of understanding (MoU) with the two state-run companies to explore and develop iron ore mines in the country. The tie-up will enable Tata Steel to secure a stable and diversified source of iron ore, reducing its dependence on a single source and ensuring a steady supply chain. The partnership is expected to provide a significant boost to the country’s iron ore production, with a forecast production capacity of 10 million tonnes per annum. The MoU also includes a provision to share resources, expertise, and technology to optimize the mining process. The collaboration is set to be a win-win for all parties involved, with Tata Steel securing its iron ore needs, NMDC and OMC enhancing their production capacity, and the Indian economy benefitting from increased production of steel.