Tata Steel to source at least half its ore from captive mines after leases end 2030: CEO T.V. Narendran

“So the cost of ore will increase for us as we buy more from the market,” said Narendran, adding that cost-cutting measures taken in the last few years will help offset this impact. The company takes confidence from the coal transition. “Twenty years ago, 80 percent of our coal was ours. Today, only 15 percent of our coal is ours,” he said.