By Our Correspondent
BHUBANESWAR: Nandlal Rungta and Mukund Rungta, Founders of Rungta Mines Ltd made their Debut on Fortune India’s List of the top 100 Billionaires, Securing 61st Position with a combined estimated Wealth of Rs 40,000 Crore.
The Rungta family’s business journey began in 1962, when the late S.R. Rungta started the S.R. Rungta Group. The group initially focused primarily on mining, including iron ore and manganese extraction.
Following their father’s death, Nandlal and Mukund took charge of the business. Their expansion gained further momentum with the involvement of Nandlal’s son, Siddharth Rungta, who is chairman of the Rungta Steel brand.
Rungta Mines Ltd (RML) and Rungta Sons Pvt Ltd (RSPL) are related entities in the Rungta Group (S.R. Rungta Group), a major player in iron ore mining and steel manufacturing focused on Odisha (and some presence in Jharkhand).
The group began with mining in the 1940s–1960s and later expanded into integrated steel production (pellets, sponge iron/DRI, billets, TMT bars, wire rods, DI pipes, ferro alloys, and captive power). Registered office is typically in Kolkata; operational/head office links to Chaibasa (Jharkhand). Promoters include the Rungta family (e.g., Nandlal Rungta, Mukund Rungta, Siddharth Rungta).
Rungta Mines Ltd (RML), incorporated in 1962. It has shifted emphasis from pure mining (older leases largely expired around 2020) to integrated steel manufacturing with backward integration via newly won iron ore mines.
Manufacturing plants in Odisha (four main locations; one in Jharkhand at Chaliyama):Karakolha Sponge Iron Plant (Barbil, Keonjhar) — Operating DRI/sponge iron (historically ~0.18 MTPA, expansions planned); captive power.
Karakhendra Steel Plant (Barbil/Keonjhar area) — Steel plant with DRI, BF/EAF/IF routes; capacity expansions (earlier ~0.13 MTPA crude steel scale, further growth planned).
Kamanda Steel Plant (Kamanda/Nuagaon, Sundergarh) — Integrated facilities (DRI, BF, steelmaking, bar/wire rod mills); expansions ongoing (hundreds of thousands of tonnes scale, further to ~1+ MTPA range in plans); captive power.
Dhenkanal Steel Plant (Jharbandh/Tarkabeda/Galpada area) — Large integrated complex (beneficiation, pellets, DRI, BF/sinter/coke, SMS via IF/EAF routes, TMT/wire rod); capacities in the multi-MTPA range with ongoing/phased expansions (e.g., toward 2.85–3+ MTPA finished steel and further growth).
Tulasidiha Ferro Alloys Plant (Dhenkanal) — Existing ferro manganese/silico manganese + sinter (~0.055 MTPA ferro alloys scale); expansion proposed to ~0.293 MTPA ferro alloys (adding ferro chrome, ferro silicon, pig iron, chrome ore beneficiation) + 150 MW captive power.
Overall RML capacities (group level, recent figures): pellets ~11.75 MTPA, sponge iron ~5.38 MTPA, billets ~3.83 MTPA, TMT ~1.92 MTPA, wire rod ~0.63 MTPA, DI pipes ~0.50 MTPA (commissioned), captive power ~372 MW. Strong cash generation and credit profile support large capex.
Mines in Odisha (RML): Older mining largely discontinued post-2020. It has won five virgin iron ore blocks (auctions in FY22–FY23) expected to start operations roughly March 2026–October 2027 (delays due to approvals). These are projected to cover a substantial share (~65%+) of future iron ore needs. Examples include Chandiposhi Iron Ore Block (Sundergarh, ~1 MTPA ROM planned), Kendudihi, Kedesala North-East, Jumka Pathiriposhi Pahar, and others under development/approvals. It also has/had manganese interests.
Iron ore for plants currently comes from a mix of own sources (where available), Odisha Mining Corporation (OMC), related parties (including RSPL), and market purchases. Coal is partly imported (e.g., South Africa) with increasing Coal India linkages.
Rungta Sons Pvt Ltd (RSPL) Incorporated 1943. Primarily a merchant iron ore miner (one of the lower-cost producers) with high-grade ore (typically 60–65% Fe). It is expanding into ferro alloys and steel via acquisitions. Strong financials (high EBITDA margins, large cash balances).
Key mines in Odisha (Sundargarh district, Bonai/Koira sector):Oraghat Iron Ore Mine (villages Oraghat & Sanindpur; ~82.961 ha) — Operating since 1982; lease extended to ~2032. Production enhancements (historical targets from ~5–8+ MTPA range toward higher handling including ROM + low-grade processing).
Sanindpur Iron & Bauxite Mine (Sanindpur/Oraghat area; ~147.10 ha) — Operating since mid-1980s; lease to ~2035. Significant expansions: EC for higher output (recent clearances toward ~19–23 MTPA iron ore handling scale, including ROM + low-grade from dumps + waste; wet beneficiation). One of the larger producers.
RSPL operates these two main iron ore mines (plus other mineral interests and recent wins for coal, limestone, etc., to operationalize later). It supplies domestic steel/sponge plants and has export history. In 2024 it acquired an operational manganese mine, an operational ferro alloy plant, and a steel manufacturing entity (phased commissioning).
Both entities are heavily focused on the mineral-rich districts of Keonjhar, Sundergarh, and Dhenkanal. Mining (especially RSPL’s large-scale iron ore) supports captive and merchant demand; manufacturing (especially RML) provides forward integration into value-added steel products under brands like Rungta Steel/TMT. Captive power ensures self-sufficiency. The group competes in auctions and is expanding capacities amid India’s steel demand growth.
