7 Jan 2020 14:03
January 7, 2020
London Stock Exchange
London
Dear Madam, Sir,
Sub: Issue of Letter of Intent to T S Alloys Limited, a wholly-owned subsidiary ofTata Steel Limited, for grant of mining lease for Saruabil block for chromite ore
This has reference to our letter dated October 24, 2019, clarifying the participation of the Company and its subsidiary company in the e-auction process held by the Government of Odisha, for the chromite mine, currently held by M/s Misrilall Mines Private Limited.
The Government of Odisha had undertaken an auction process for the grant of mining lease for the Saruabil Chromite mining block. We have been informed that, the Government of Odisha has issued to T S Alloys Limited, a wholly-owned subsidiary of the Company,a Letter of Intent dated January 6, 2020, as the Successful Bidder for grant of mining lease for50 years, subject to fulfilment of certain conditions.
This disclosure is made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.
Tata Steel (TTST)