Lloyds Metals and Tata Steel Enter MoU for Co-operation in Raw Material Mining, Logistics, Pellets and Steel Making

Lloyds Metals and Energy Limited and Tata Steel Limited have entered into a non-binding Memorandum of Understanding (MoU) to explore strategic partnership in areas such as raw material mining, logistics, pellets and steel making. The proposed partnership aims at utilising the natural synergy in the business operations between Lloyds Metals and Tata Steel. The MoU sets out a framework for both companies to evaluate potential cooperation in greenfield steel making projects, iron ore mining, slurry pipeline infrastructure, pellet making in iron ore rich states in India, direct reduced iron production and exports of value-added low carbon iron and steel products among other associated areas of mutual interest. Tata Steel has also become a co-owner in Brahmani River Pellet Limited (BRPL), by acquiring a 50.01% stake in the company. Lloyds Metals is a pioneer in mining and metal operations in Maharashtra and currently operates the largest iron ore mine in the country located in Gadchiroli.