Tata Steel gets concession approvals for two mines

May 27, 2008

May 27 (The Financial Express) – Tata Steel has received mineral concession approvals from the ministry of mines for two large mines—one for iron ore in Jharkhand and the other for chromeore in Manipur.

Both of these are prospecting licences (PLs). Now as per the rule, the company would have to apply to the ministry for mining leases after completion of prospecting work and outlining estimated reserves.

The concession for Jharkhand mine was granted on April 16. It has total area of 1,808 hectare. The one for chromite in Manipur has a total area of 55.445 sq km. The concession was granted on April 24.

“Getting a prospecting licence does not necessarily mean that we have won the mine now. Even at this point of time, these can be awarded to others, as well. No doubt, since PLs have been awarded to us, we get little priority. We have to submit the prospective reserves in those mines to the ministry,” a company official said.

Tata Steel currently sources 100 % of its iron ore requirement from its existing captive mines in Jharkhand.

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