TS Alloys Limited, a wholly-owned subsidiary of Indian steelmaker Tata Steel, has won a licence for a chromite ore mine in Odisha, India.
The state government of Odisha had undertaken an e-auction process for the grant of mining lease for the Saruabil chromite mine, which was previously held by Misrilall Mines Private Limited. Last week, TS Alloys Limited was announced as the highest bidder and the new holder of chromite mine for the next 50 years.
Stronger mining positions are expected to support Tata Steel and its subsidiary in achieving higher efficiency in certain value-added product segments, SteelOrbis understands.