Bengaluru, April 30, 2024: Tata Steel, through Tata Steel Industrial Consulting Division (TSIC), and TEXMiN, the Mining Technology Innovation Hub at IIT (ISM) Dhanbad, have forged a landmark partnership aimed at catalysing innovation and reshaping the landscape of natural resource management in India. The Memorandum of Understanding (MoU) marks a significant commitment towards propelling the mining industry into the era of Mining 4.0, underlining both institutions' dedication to fostering a sustainable and efficient future for the sector.
D. B. Sundara Ramam, Vice President, Raw Materials, Tata Steel, said: "Collaborating with TEXMiN presents an exciting opportunity for Tata Steel to push the boundaries of innovation in the mining industry. By prioritising technical advancements, skill development, and innovative technologies, this collaboration promises to redefine resource management practices. Together, we aim to set new benchmarks for efficiency and sustainability, driving transformative change across the sector."
Prof. Dheeraj Kumar, Project Director at TEXMiN and Deputy Director at IIT (ISM) said: “This partnership with TSIC heralds the commencement of a thrilling expedition towards research, innovation, and skill enhancement within the mining domain.”
Suraj Prakash, CEO of TEXMiN, underscored his organisation’s visionary outlook, underscoring its unwavering commitment to amplifying technological innovations and emboldening mining enterprises on their digital transformation.
The partnership between TSIC and TEXMiN encompasses a multifaceted approach aimed at achieving several key objectives. Leveraging their expertise, both entities will provide technical support and consultancy services to integrate cutting-edge software and digital methodologies into exploration, mining, and beneficiation processes, enhancing operational efficiency within the sector.
Through meticulously curated training initiatives, the collaboration aims to empower mining professionals with contemporary proficiencies spanning exploration, mining, remote sensing, and regulatory protocols, ensuring a skilled and competent workforce for the future.
TSIC and TEXMiN will synergise their efforts to conceive novel products and services with commercial viability, focusing on scalability and innovation to address industry challenges and drive transformative change. The partnership will also explore and implement nascent mining technologies, fostering sustainable growth and industry-wide transformation through the adoption of innovative solutions.
Additionally, TSIC and TEXMiN will collaborate in governmental and private sector initiatives, leveraging their complementary competencies to overcome challenges and foster a culture of transformative change within the mining industry.
About TEXMiN, IIT (ISM) Dhanbad
TEXMiN (Technology Innovation in Exploration & Mining) Foundation, instituted by DST, GoI, under the NMICPS mission, is a Section 8 company and the preeminent Mining Technology Innovation Hub of IIT (ISM) Dhanbad. It is committed to addressing the manifold challenges confronting the mining and exploration sector through the strategic deployment of CPS-based technologies.
About Tata Steel Industrial Consulting Division (TSIC)
Tata Steel Industrial Consulting (TSIC), a division of Tata Steel Limited, specialises in rendering consulting services tailored to the industrial milieu, encompassing mining, and metallurgy. Armed with a rich legacy of expertise and innovation, TSIC is steadfast in its mission to furnish value-added solutions that engender sustainable growth and operational excellence.
This collaborative endeavor represents a seminal stride towards advancing mining practices, nurturing innovation, and engendering a scenario conducive to mutual enrichment for all stakeholders involved.
Disclaimer
Statements in this press release describing the Company’s performance may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred, or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
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