India’s billet and rebar maker Gallantt Ispat Limited (GIL) has secured two iron ore blocks in the Sonbhadra district in the northern state of Uttar Pradesh, through the auction route, a company statement said on Tuesday, June 24.
The two mines will give GIL access to 50 million mt of iron ore reserves and reduce the company’s external dependence on raw material supplies, it said in the statement.
The backward integration will enable GIL to directly transport iron ore to its steel mill also located in the northern state, thereby lowering production costs and enhancing efficiency, the company said.
