This initiative will help conservation of chromite ore which otherwise would have been left unmined forever, Jindal Stainless said in a statement.
''This unique partnership sets an example for sustainable chrome ore mining in an innovative manner. Both the companies would now initiate steps to get necessary statutory approvals from authorities concerned before jointly starting mining operations,'' it said.
TSML managing director M C Thomas said the company is committed to sustainable mining.
''Such a joint initiative will set examples for organisations especially in the mining industry to collaborate in the larger interest of mineral conservation and sustainability. These will redefine the way mining is done through technology, mineral conservation and safety,'' he said.
TSML is a subsidiary of Tata Steel Ltd.
Jindal Stainless managing director Abhyuday Jindal said this is a very unique collaboration where JSL and TSML will derive maximum value from a joint mining effort.
This initiative will enhance the availability of ore in the region without any adverse environmental impact, as it is an already explored area, he added.