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Tata Steel faces a demand of Rs 1,902.72 crore from Odisha's mining authorities due to an alleged shortfall in mineral dispatch from its Sukinda Chromite Block. The demand, based on a revised assessment, pertains to the period from July 2023 to July 2024. Tata Steel contests the claim, asserting it lacks justification and plans to pursue legal remedies. View More

Tata Steel received a demand notice from the Deputy Director of Mines, Jajpur, Odisha, seeking Rs 1,902.72 crore over an alleged shortfall in mineral dispatch from its Sukinda Chromite Block during the fourth year of its mining agreement, the company said in an exchange filing. The demand, issued on July 3, stems from a revised assessment based on the average sale price declared by the Indian Bureau of Mines. Authorities have invoked Rule 12A of the Minerals (Other than Atomic and Hydrocarbon Energy Minerals) Concession Rules, 2016, and have moved to appropriate the company’s performance security. The shortfall reportedly occurred during the period from July 23, 2023, to July 22, 2024, under the Mine Development and Production Agreement (MDPA) signed for the Sukinda block. Tata Steel has contested the claim, stating that the demand lacks “justification and substantive basis,” and said it will explore legal remedies before the appropriate forums. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)