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Lloyds Metals and Energy to acquire 49.99% stake in Thriveni Pellets, after the Competition Commission of India (CCI) cleared the deal.
Lloyds Metals and Energy is an Indian company involved in iron ore mining, sponge iron (DRI) production, power generation, and pellet trading. While, Thriveni Pellets is a manufacturer and seller of iron ore pellets in India, and it operates a wholly owned subsidiary, Brahmani River Pellets, which also makes and markets pellets domestically.
Why it matters: for Lloyds, the acquisition strengthens its position in the iron ore and pellet value chain, as it already operates in mining, DRI, and captive power.
The deal gives Lloyds Metals almost half ownership in a major iron pellet maker in eastern India. This will help the company secure a steady raw material supply and strengthen its steel-making business.
Zoom out: India’s iron ore output rose to 284 million tonnes in 2024, up 2% YoY, with Lloyds Metals & Energy emerging as one of the fastest-growing producers, up 14% from last year.
NMDC, Tata Steel, and OMC lead the pack, while mid-tier players like Lloyds, Vedanta, and AM/NS India are rapidly expanding their footprint. This growth underlines India’s continued push to scale domestic mining and steelmaking capacity.
For Lloyds, now ranked among the top 10 producers, the acquisition of Thriveni Pellets strengthens its position across the iron ore-to-steel value chain, ensuring a more integrated and secure supply base.
