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A2, 2nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel, Mumbai- 400013, Maharashtra.
A2, 2nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel, Mumbai- 400013, Maharashtra.
We have recently announced the acquisition of the MDO operations of Thriveni Earthmovers Pvt. Ltd. (TEMPL) to further solidify our position in the industry. The MDO business of TEMPL is demerged to a new company Thriveni Earthmovers and Infra Pvt. Ltd. (‘TEIPL’), which will now become a subsidiary of Lloyds Metals.
Swift execution at optimised costs while ramping up our mining output from 10 MnT to 55 MnT at Surjagarh Iron Mine in the future
Generate substantial cost savings on iron ore on a consolidated basis
The acquisition comes in with a strategic vision to execute an order book exceeding ₹1,00,000 crore over the next 15 to 18 years
Backed by the robust balance sheet of LMEL and Thriveni’s extensive industry expertise, the acquisition will help create a significant presence in the global MDO services arena
Located in Gadchiroli, Maharashtra, the Surjagarh Iron Ore Mines faced a significant challenge operating in a Naxalite-affected region. Despite the risks, Thriveni took a bold step, believing that collaborating with local communities and sharing economic benefits would foster acceptance and drive positive change.
Within months, over 2,000 locals found employment in mining, logistics, and infrastructure. This not only provided livelihoods but also introduced a culture of discipline and professionalism through continuous training and NGO partnerships. The initiative has gained widespread local support, ensuring long-term economic stability.
This collaborative effort, involving communities, local authorities, and the administration, has driven economic growth and improved government resource allocation. While security challenges remain, strong partnerships and a shared vision continue to make a lasting impact on the region’s development.
Under Thriveni’s management, the capacity of the Surjagarh mine was significantly raised from 3 MTPA to 10 MTPA, and it has recently received approval to further increase the capacity to 25 MTPA. This enhancement not only boosts production but also positions Lloyds as a competitive player in the iron ore market. The increased capacity is essential for meeting the growing demand for iron ore in various sectors, particularly in steel production.
With the surge in iron ore demand post-2003, Odisha’s privately held leases remained untapped due to lack of development capabilities. Instead of acquiring leases, Thriveni adopted a unique partnership model collaborating with lease owners to develop and operate the mines without financial commitments.
This innovative approach, combined with rapid execution, led to the successful development of over 15 partnerships, increasing ore production to over 45 MTPA the highest in India. Thriveni’s model not only met soaring demand but also transformed Odisha’s mining landscape.
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