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Jindal Stainless signs MoU with Tata Steel Mining

20 Jul 2021 Evaluate

Jindal Stainless has signed memorandum of understanding (MoU) with Tata Steel Mining to jointly unearth chrome ore locked up in the boundary between their mines located at Sukinda in Odisha's Jajpur district. This initiative will help conservation of chromite ore which otherwise would have been left unmined forever.

This unique partnership sets an example for sustainable chrome ore mining in an innovative manner. Both the companies would now initiate steps to get necessary statutory approvals from authorities concerned before jointly starting mining operations.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.


Peers
Company Name CMP
JSW Steel 1229.00
Tata Steel 178.20
Steel Authority 172.20
Jindal Stainless 733.30
APL Apollo Tubes 2122.10
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