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T.V. Narendran, MD and CEO of Tata Steel, predicts that the global recycling industry will grow larger than the mining sector by 2050. Speaking at an industry event in Jharkhand, Narendran emphasized the increasing economic value of recycling and the need for sustainable material management.
He noted that Tata Steel is already seeing strong returns from its Industrial By-products Management Division (IBMD), which generates a turnover of ₹10,000 crore. The company is focused on designing steel products that are easier to recycle, turning waste into a strategic resource.
Narendran also highlighted the rising importance of "urban mining"—the process of extracting valuable minerals like lithium and cobalt from electronic waste. This approach can help reduce India's reliance on imported raw materials and support the green energy transition.
Digitalisation is another key driver. Narendran explained that smaller businesses now have the tools to compete through customized solutions, reducing the need for large-scale operations.
As environmental regulations tighten and carbon reduction targets become more urgent, the shift toward recycling and electric arc furnace (EAF) steelmaking presents a viable path forward. Tata Steel aims to lead this transformation, aligning its growth strategy with global sustainability goals.
This forward-looking vision positions recycling not just as an alternative to mining, but as a future cornerstone of the materials industry.
Also Read : Green Steel on the Rise: Market to Surge to $1.3 Trillion by 2032 Nippon Steel Pledges $14 Billion Investment to Secure U.S. Steel Acquisition
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