Tata Steel signs a business cooperation agreement with A&B Global Mining
Tata Steel has signed a business cooperation agreement with A&B Global Mining Pvt. Ltd. (ABGM) to harness new business development opportunities and deliver mine technical services in areas such as exploration, resource evaluation, mine planning & scheduling, due-diligence, investment thesis, digitalisation, clean/hybrid energy solutions, doing pre-feasibility, bankable feasibility studies, owners engineering and project management. ABGM will also collaborate with Tata Steel to deliver competitive integrated business solutions to the global mining industry.
Tata Steel will closely work with ABGM India which will interface with their South African entity to explore business opportunities in India and abroad and utilise each other’s technical and strategic strengths to deliver projects across the mining and metals including the steel value chain.
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 its captive mines for sustainable mining. We started offering mine technical services commercially through Tata Steel Industrial Consulting to the mining industry outside Tata Steel along with our partners and this agreement will further complement our capabilities & capacities 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 one of the world’s most geographically diversified steel producers, providing fully integrated steel operations – from mining to the manufacturing and marketing of finished products. It brings deep knowledge and experience in the manufacturing and selling of steel, as well as mining of required raw materials for steel.
Devendra Vyas, Managing Director, A&B Global Mining, said: “We are pleased to be working in collaboration with Tata Steel to deliver mine planning, engineering and project management services including customised end to end solutions to the Clients. With a shared focus on value creation and sustainability, this agreement is the foundation for a strong partnership and compliments our efforts to diversify our services to wider stakeholders in the industry and accelerate our growth across commodities and geographies. We are confident of offering world class services covering entire value chain in Mining & Metals with cost competitiveness.”
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
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About A&B Global Mining
ABGM is a leading niche mining consultancy and provides a world-class service. Their multi-discipline and multi-commodity team of professional consultants specialize in both underground and surface, hard-rock and soft-rock, mining operations. Their core services focus on mineral resource management (MRM), mine optimization, LOM mine planning and practical mining solutions. Their solution footprint further includes, inter alia: scoping and feasibility studies, geological services and studies, open pit and underground mine design and scheduling, ventilation design, geotechnical studies and applications, process modelling, renewable energy for mines, digitalization and AI application, fleet simulations and legal compliance services. The Indian offices of ABGM have recently started operations from World Trade Park in Jaipur headed by Business Head Mr Kamal Chatterjee and the group is very keen to expand into MENA region.
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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