Tata Steel Mining completes execution of mining lease in Odisha
These mines were auctioned by the state government of Odisha
Tata Steel Mining (TSML) has completed execution of mining lease for Kamarda Chromite Mine and Saruabil Chromite Mine in Jajpur district in Odisha on 26 June 2020.
The agreements were formally signed by Ranjan Kumar Das, IAS, Collector and District Magistrate, Jajpur, and M C Thomas, Managing Director, Tata Steel Mining at Jajpur.
These mines were auctioned by the state government of Odisha and the leases are granted for a period of 50 years.
Among the commercial leases which expired on 31 March 2020, and auctioned, these are the first leases to be converted into mining leases across India.
After becoming the highest bidder, the company was given a Vesting Order by the state government in May 2020.
The company has completed all steps such as upfront payments, execution of Mine Development and Production Agreement (MDPA) and has maintained all other eligibility criteria.
The state government gave vesting order with all the clearances for two years and also declared the company a successful bidder before formally communicating the grant order enabling the lease for execution.
TSML is a 100% subsidiary of Tata Steel and headquartered in Bhubaneswar, Odisha.