Tata Steel Signs A Business Cooperation Agreement With MN Dastur & Company Ltd

Tata Steel has signed a business cooperation agreement with MN Dastur & Company Pvt. Ltd. to compliment capabilities in delivering end to end services from exploration of mineral reserves to Bankable Feasibility studies and detailed project reports with support in the area of engineering and infrastructure. MN Dastur shall also work with Tata Steel to deliver integrated projects spanning various minerals and geographies.

On the alliance, D.B Sundara Ramam, Vice President, Raw Materials, Tata Steel said: “We are in the mining business for more than a century with the Natural Resource Division of Tata Steel providing various exploration & mine planning services to our captive mines for sustainable mining. Since last 18 months, we have started offering our mine technical services commercially through Tata Steel Industrial Consulting to the mining industry outside Tata Steel. This agreement with M N Dastur & Company will complement our capabilities & capacities especially in the area of mine infrastructure planning and preparation of bankable feasibility report. Together with M N Dastur and our other esteemed business partners, we intend to raise the standards of such services in India in particular and internationally in general for more scientific and sustainable mine development.”

Tata Steel is the oldest and the largest private sector player in mining in India. It has been in mining space for more than a century and is operating number of mines in iron ore, manganese, chromite and coal. It brings deep knowledge and experience in the mineral exploration, mine planning, scientific mining operations and mineral processing.

Abhijit Ray, General Manager Business Development of M N Dastur & Company said: “We are pleased to start working  in collaboration with Tata Steel to deliver mine infrastructure planning and downstream mineral processing and engineering services. Together with Tata Steel and its partners in area of mine technical services we can provide integrated end to end services covering all aspects of mine planning and mine infrastructure planning including pre-feasibility and feasibility studies.”

About MN Dastur & Company

Founded in 1955 by the visionary Dr. Minu Nariman Dastur, Dastur is today one of the largest independent consulting engineering organizations in the world that enjoys a global reputation built on trust. The organization has a multidisciplinary team of professionals with an in-depth understanding of the latest trends, combining creativity with initiatives.

About Tata Steel

·         Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum

·         It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world

·         The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022

·         A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000

·         Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.

·         The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.

·         Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023

·         The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016

·         Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification

·         Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, Steel Sustainability Champion recognition from worldsteel for five years in a row, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute

·         Recognised with 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others

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