Tata Steel arm signs MoU with Jindal Stainless

Tata Steel's mining company, Tata Steel Mining Limited (TSML) and Jindal Stainless Limited (JSL) signed a memorandum of understanding (MoU) to jointly utilise chrome ore locked up in the boundary between their mines located in Sukinda of Jajpur district, Odisha. “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," said Abhyuday Jindal, Managing Director, Jindal Stainless Limited.This would help the conservation of chromite ore which otherwise would have been left unmined forever, the companies said in a joint statement on Monday.Both the companies would now initiate steps to get necessary statutory approvals from concerned authorities before jointly starting mining operations."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," said MC Thomas, Managing Director, Tata Steel Mining. The MoU was signed at Bhubaneswar by Mr M C Thomas, Managing Director, Tata Steel Mining Limited, and Mr Shashibhushan Upadhyay, Vice President (Projects), Jindal Stainless Limited. Mr Ratan Jindal, Chairman, Jindal Stainless Limited, Mr Abhyuday Jindal, Managing Director, Jindal Stainless Limited and other senior officials from both companies had joined virtually for this special occasion.

from Economic Times https://ift.tt/3kx3LOo