The major produce of this mine is iron ore (including blue dust). The mines are run by the Tata Steel and most of the residents of this town are employed by this company. In the recent past a lot of private mine-owners have also set up shop in and around the town. A Pelletizing Plant of Tata Steel to convert blue dust to pellets, suitable for use in blast furnace functioned here from 1972 to 1986 but was closed down because it was not economically viable . The town is the right on the border of Jharkhand and Odisha with some of the iron-mines spanning the two states.The portion of iron mining area of Noamundi in the state of Odisha is called Katamati.