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Recycling industry to be bigger than mining sector by 2050: Tata Steel MD T V Narendran
Economic Times
·
1m ago
Medial
Tata Steel MD T.V. Narendran predicts that the recycling industry will overtake the mining industry by 2050. Speaking at the Singhbhum Chamber of Commerce and Industry's platinum jubilee, Narendran highlighted opportunities in recycling and urban mining, given India's limited critical minerals and growing electronic consumption. Tata Steel itself is investing in recycling, foreseeing significant growth in managing by-products and recycling steel. Digital advancements also enable smaller companies to succeed through customization.
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Job cuts in Tata Steel's UK operations inevitable: CEO T V Narendran
YourStory
·
1y ago
Medial
Tata Steel's CEO, T V Narendran, has stated that around 2,500 workers at the company's UK operations will inevitably lose their jobs as the firm transitions to the low-emission electric arc furnace (EAF) process. This move is part of Tata Steel's decarbonisation plan and will reduce production costs and CO2 emissions. However, unions are protesting against the job losses. In September 2023, the company and the UK government agreed on a joint investment plan of £1.25 billion ($1.75 billion) to implement decarbonisation measures at the Port Talbot steel-making facility.
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Tata Steel CEO says job cuts in Britain ‘least bad option,’ will continue talks
Livemint
·
1y ago
Medial
Tata Steel CEO, TV Narendran, has stated that the planned job cuts in the UK were the "least bad option" for the company. Tata Steel intends to close its two blast furnaces in Britain, resulting in up to 2,800 job losses. Despite the plan being rejected by trade unions, Narendran hopes to reach a conclusion through continued talks. He emphasized that the company is not profitable and restructuring is necessary. Tata Steel is also looking into India's ongoing auction of critical minerals and expects strong steel demand in the country.
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Iran-Israel conflict not to have much impact on Tata Steel unless it lasts long: MD a& CEO T V Narendran
Economic Times
·
1m ago
Medial
Tata Steel CEO T.V. Narendran stated that the Iran-Israel conflict currently has little impact on the company, as 95% of sales are domestic. However, prolonged conflict could impact global markets and Tata Steel. Narendran highlighted that increased oil prices and logistic costs could affect trade if tensions persist. Even though Tata Steel's primary exports are to Europe and the US, any extended conflict may present challenges in trade, logistics, and costs.
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Tata Steel to explore new markets as tariffs hit US shipments
Economic Times
·
8d ago
Medial
Tata Steel Ltd., impacted by U.S. tariffs on its shipments, plans to explore markets in the Middle East and Latin America, according to CEO T.V. Narendran. The tariffs have led Tata Steel to consider shifting its focus from the U.S., where steel exports from its Netherlands plant face a 50% tariff, and lower tariffs apply to the U.K. The company aims to mitigate tariff risks by diversifying its market presence globally.
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Tata Steel gets Rs 1,902 crore demand notice over alleged mineral dispatch shortfall
Economic Times
·
1m ago
Medial
Tata Steel received a demand notice for Rs 1,902.72 crore from Odisha’s Deputy Director of Mines over an alleged mineral dispatch shortfall from its Sukinda Chromite Block. The claim, based on a revised assessment by the Indian Bureau of Mines, cites a shortfall during the fourth year of Tata Steel’s mining agreement. Tata Steel has contested the claim, asserting it lacks justification, and plans to explore legal remedies.
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Tata Steel acquires 179 crore shares in Singapore subsidiary T Steel Holdings for Rs 1,562.54 cr
Economic Times
·
1m ago
Medial
Tata Steel Limited has acquired 179.10 crore shares in its Singapore-based subsidiary, T Steel Holdings Pte. Ltd., for approximately Rs 1,562.54 crore ($180 million). These shares have a face value of USD 0.1005 each. This acquisition is part of Tata Steel's plan to infuse up to $2.5 billion into the subsidiary during the financial year 2025-26, as previously disclosed. The subsidiary remains wholly owned by Tata Steel after this capital infusion.
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Vedanta surpasses 1 GW renewable energy mark, targets 2.5 GW by 2030
Business Today
·
2m ago
Medial
Vedanta Ltd has increased its renewable energy capacity to 1.03 GW, aiming for 2.5 GW by 2030, on its path to net-zero carbon emissions by 2050 or sooner. The company marked this milestone on World Environment Day, as part of India Inc's decarbonisation efforts. The renewable capacity increase was achieved through power delivery agreements, underscoring Vedanta’s commitment to sustainability in the mining and metals sector.
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Hindustan Zinc dispute: Vedanta parent moves Permanent Court of Arbitration against Indian govt | Company Business News
Livemint
·
8m ago
Medial
UK-based company Vedanta Resources Ltd has initiated arbitration proceedings against the Indian government at the Permanent Court of Arbitration (PCA) over a mining rights dispute. The arbitration, under the India-UK bilateral investment treaty, raises concerns over foreign investment in India's mining sector. The disagreement stems from Vedanta's bid to acquire the government's stake in mining company Hindustan Zinc, which was rejected by Indian authorities. The arbitration began in October, and former Indian supreme court judge V Ramasubramanian is among the arbitrators. The seat of arbitration is in Switzerland.
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How Honda hedged its bet on the hydrogen fuel cell-powered CR-V e:FCEV
TechCrunch
·
1y ago
Medial
Honda has announced plans to sell only zero-emission vehicles by 2040 and aims to become a net-zero carbon emissions company by 2050. As part of this strategy, Honda is investing in both battery electric vehicles (BEVs) and hydrogen fuel cell vehicles (FCVs). The company recently introduced the 2025 Honda CR-V e:FCEV, a hydrogen fuel cell vehicle with an electric range of 29 miles. Honda views hydrogen technology as an avenue for advancement in the energy sector, with applications in consumer and commercial vehicles, stationary power stations, and construction machinery. The CR-V e:FCEV will be available for lease in California this summer.
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Gautam Adani has a new $5 billion business idea in mind | Company Business News
Livemint
·
8m ago
Medial
The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.
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