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PrintDomestic steel major, Tata Steel, has received a prospecting licence (PL) from the Ministry of Mines for an iron ore mine in Maharashtra.
As per rule, Tata Steel will now have to apply to the ministry for mining lease after completion of prospecting and outlining estimated reserves.
The concession for the Maharashtra mine with a total area of 131.1 hectare was granted to the company on December 22, according to the ministry&aposs website.
Getting a PL approval does not mean that Tata Steel owns the mine now. Even at this point of time, the mine could be awarded to another company, but the steel major will get priority.
Tata Steel currently sources 100 per cent of its iron ore requirement from the existing captive mines in Jharkhand.
In May this year, Tata Steel had received a PL for an iron ore mine in Jharkhand. It was bigger in size with a total area of 1,808 hectare.
Tata Steel is expanding its Jamshedpur plant capacity in Jharkhand to seven million tonne from five million tonne now. Subsequently, it would be raised to 10 million tonne per annum by 2010. (Source: Indopia)
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