Tata Steel, the world’s sixth largest steel maker, is raising its annual iron ore production by 55 per cent to 17 million tonnes in
Tata Steel has two captive mines in the country that produce 11 mt annually. The entire production from the mines is consumed by the
Tata Steel will double the production from its Joda mine in Orissa, which produces 4 mt of iron ore. The cost of expansion would come to around Rs 600 crore. Another mine at Noamundi in Jharkhand will increase its production to 9 mt from the current 7 mt at a cost of Rs 500 crore.
While the captive mines produce iron ore at a cost of $15 a tonne, the effective prices in the local spot market hover around $50-60. Thus, running steel plants with the captive iron ore reduces costs to a certain extent and increases margins.
crackcrack| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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