Odisha Iron Ore

Raikela Iron Ore Mine, Odisha, India

Challenge

From 2003 onwards, we witnessed an unprecedented surge in iron ore production demands, due to Chinese demand for the commodity. Odisha had numerous privately held leases with cross family ownership. However, they remained undeveloped, and the lease owners didn’t possess the capabilities for development.

Solution

Thriveni saw an opportunity to partner with lease owners and develop mines. Whist competitors were focused on lease ownership and made numerous attempts to acquire leases, Thriveni’s approach was unique. We partnered with lease owners without seeking lease ownership or financial commitments. We sought responsibility for developing the mine and selling the ore. This model was as unique as it was simple. Our rapid execution ability and determination to develop the mine resulted in meeting the ore demand.

Benefit

In a short span of ten years, developed over fifteen partnerships with individual lease holders, ramping up ore production to levels higher than 45 Mtpa, the largest value in the country.