In a significant development for the Indian steel sector, Lloyd Metals has received crucial environmental clearance from the Ministry of Environment, Forest, and Climate Change. This green light paves way for the company to dramatically increase its iron ore mining capacity to 55 million tonnes per annum (MTPA).
This expansion will establish Lloyd Metals mine as the largest iron ore operation in the country. The move is set to provide a major boost to domestic steel producers by significantly enhancing their access to raw materials and contributing to more cost-effective steel production. The company anticipates improved cost structures and profit margins with this long-term ore security, also acting as a foundational enabler for various downstream industries.
Furthermore, the company is progressing with its beneficiation complex, and post-beneficiation it is indicated that it will produce high-quality, refined iron ore products that are ideal for efficient and high-quality steel production globally.
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