Lloyds Metals & Energy Ltd. (Lloyds) was incorporated in 1977 as a steel manufacturing company.
The company is originally promoted by experienced businessmen Mr. Mukesh Gupta, Mr. B.L. Agarwal, and Mr. Rajesh Gupta. The company has entered into Strategic Partnership with Thriveni Earth Movers Pvt Ltd (Co-promoter), India’s biggest MDO contractor
Lloyds was awarded a lease for iron ore mines in 2007 at Surjagarh Village, Gadchiroli district, initially for a period of 20 years & extended to 50 years under MMDR Act, 2018. This district has Maharashtra’s richest iron ore reserves.
Due to instability in the region, the company’s mines faced various challenges in operations. In 2021, the company entered into a strategic partnership with one of the largest mining development operators, Thriveni Earthmovers (Co-promoter), and from FY22 the mines have recommenced operations at full capacity.
Today, Lloyds is present across the value chain of steel manufacturing, from iron ore mining to DRI manufacturing, and is further forward integrating into steel manufacturing.
The overall iron ore reserves in the allocated mines are estimated by the Maharashtra Government’s Directorate of Geology and Mining to be 90 Mn tonnes (estimated in 1980s), of which 73.6 Mn tonnes are proven. The extraction capacity of iron ore from the mines as of FY22 is at 3 MMTPA.
The company is the largest coal-based DRI manufacturer of Maharashtra, Ghugus Village, Chandrapur district, with a production capacity of 270,000 TPA, along with a captive power plant with a 30MW capacity. Forward integration of this plant is being planned.
LMEL is also setting up a mineral-based Steel plant at Konsari, Gadchiroli district for manufacturing the DRI with a capacity of 72,000 MTPA.