Is it true that Tata Steel is planning to expand its iron ore production over next few years?

Tata Steel will look to increase its iron ore production from 30 MTPA to 45 MTPA over the next 5 years. Iron ore is one of the key inputs in the manufacture of steel. Currently, Tata Steel has installed captive capacity of 30 MTPA across captive mines in Noamundi block in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha. These cater to steel plants at Jamshedpur and Kalinganagar.

Tata Steel started its iron ore mining operations at Noamundi in 1925, so it is nearly 100 years old. This expansion of capacity by 50% will give Tata Steel a more assured supply of iron ore as well as better control over costs. Iron ore prices have gone up sharply in the last 6 months due to surge in global demand.