TSML seals chromite mining deal in Odisha

Tata Steel Mining Limited (TSML) has sealed the execution of the mining lease deal for Kamarda Chromite Mine and Saruabil Chromite Mine in Jajpur district of Odisha. The agreements were signed by Ranjan Kumar Das, IAS, Collector and District Magistrate, Jajpur, and M C Thomas, MD, TSML. These mines were auctioned by the Odisha government and the leases were granted for a period of 50 years. Among the commercial leases which expired on March 31, 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 Odisha government in May 2020. TSML has completed all steps like the upfront payments, execution of Mine Development and Production Agreement (MDPA) and has maintained all other eligibility criteria. The Odisha government granted the vesting order with all the clearances for two years and declared the company as a successful bidder before communicating the grant order enabling the lease for execution. M C Thomas informed that the company is thankful of the state government for the exceptional support in processing the approvals in less than 30 days from the date of LoI and this is a milestone for TSML.