Tata Steel Mining and Jindal Stainless will jointly mine chrome ore in Odisha

New Delhi: Tata Steel Mining Limited (TSML), a 100 percent subsidiary of Tata Steel Limited and Jindal Stainless Limited (JSL) have signed a memorandum of understanding (MoU) on July 16 to jointly unearth the chrome ore locked up in the boundary between their mines located in Sukinda of Jajpur district in Odisha. The MoU was signed at Bhubaneswar by TSML's Managing Director (MD) MC Thomas and JSL's Vice President (Projects) Shashibhushan Upadhyay. JSL's Chairman Ratan Jindal, JSL's Managing Director Abhyuday Jindal and other senior officials from both companies had joined virtually for this special occasion.

"This unique partnership sets an example for sustainable chrome ore mining in an innovative manner. This is a win-win-win partnership for the state of Odisha, TSML and JSL. This would help the conservation of chromite ore which otherwise would have been left unmined forever. Both the companies would now initiate steps to get necessary statutory approvals from concerned authorities before jointly starting mining operations," said Jindal Stainless in an official press statement.

Speaking on the occasion Thomas said, "I am very happy to commence this project today with JSL who has been a valued customer and partner. We are committed to sustainable mining and such a joint initiative will set examples for organizations especially in the mining industry to collaborate in the larger interest of mineral conservation and sustainability.  These will redefine the way mining is done through technology, mineral conservation and safety."

While Abhyuday Jindal said, "This is a very unique collaboration where JSL & TSML will derive maximum value from a joint mining effort. This effort will enhance the availability of ore in the region without any adverse environmental impact, as it's an already explored area. The move will also benefit the local economy. As responsible institutions, we are committed to sustainable mining activity in the region."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)