In a bid to meet supply shortfall from its own mines, Tata Steel has resumed buying iron ore from NMDC. The continuing problem of evacuation since July with the State government from its Noamundi mines in Jharkhand, over the lease renewal issue made it opt for domestic purchase as NMDC price for high grade ores was lower than the landed cost of imported ores.
Last year, Tata Steel had bought 0.8 million tonnes iron ore from NMDC and imported around 1.5 million tonnes to meet the shortfall for the Jamshedpur plant during the four-month closure in the same mine ordered by Jharkhand government.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
