Tata Steel & Lloyds Metals sign MoU on cooperation including iron mining
Tata Steel has signed a MoU with Lloyds Metals & Energy Ltd to partner in the areas of iron ore mining, logistics including slurry pipeline, pellet and steelmaking.
Both companies will jointly explore opportunities in the Gadchiroli district of Maharashtra – firstly operating mining concessions and associated infrastructure, with the objective to increase iron ore production and be a prominent player in this growing region developing as a new iron ore hub of India.
Lloyds’ operates the massive Surjagarh iron ore mine in the Gadchiroli district of Maharastra, one of the the largest in India with 857 Mt of reserves and production plans to ramp up to 55 Mt/y. Lloyds Metals received the Environment Clearance for the expansion in June 2025. The company plans to initially mine 26 Mt/y of haematite (Direct Sales Ore). The mining is conducted by Thriveni Earthmovers which is now 80% owned by LMEL.
Secondly, the MoU will explore joint development of a greenfield 6 Mt/y steel capacity by Tata Steel in two phases and thirdly, strategic cooperation in the proposed integrated steel projects already being developed by Lloyds Metals & Energy Limited (LMEL) in Gadhchiroli. All proposed initiatives are subject to further detailed evaluation, due diligence, and receipt of requisite internal and regulatory approvals.
Tata Steel has also signed definitive agreements to acquire 50.01% stake in Thriveni Pellets Private Limited (TPPL) from LMEL, subject to regulatory approvals. TPPL owns a 100% stake in Brahmani River Pellet Limited (BRPL), which operates a 4 Mt/y pellet plant at Jajpur, Odisha along with a 212 km slurry pipeline. LMEL holds the balancing 49.99% stake in TPPL.
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