KIOCL, a government owned enterprise which runs a pellet plant of 3.5 MnT pa capacity is likely to participate in Karnataka’s mine block auctions to be held next month.
Department of Mines & Geology (Govt. of Karnataka) has scheduled 14 mine blocks under auction which is to take place in Aug’16. The mine blocks which are to be put under auction belong to the “C”category mines located primarily located in Bellary & Chitradurga districts of Karnataka.
After closure of mining activities at captive mines of Kudremukh over grounds of environmental concerns, the company is is currently devoid of captive iron ore mines and is looking forward for other alternatives for mining in Karnataka and other states.
KIOCL renews plea for captive iron ore mines
KIOCL has urged the Union Minister for Steel Mr. Birendra Singh and Union Secretary Ms. Aruna Sundarajan to speed up the process of allotment of captive iron ore mines to it.
KIOCL’s iron ore sourcing dropped sharply by 88% in FY16
As per data maintained by SteelMint, KIOCL’s iron ore sourcing has fallen sharply in FY16 by 88% Y-o-Y. It had sourced 0.07 MnT iron ore in FY16 against 0.57 MnT iron ore in FY15.
In FY15, KIOCL’s pellet production fell drastically by 54% Y-o-Y and was recorded at 0.79 MnT.
KIOCL to import 70,000 MT iron ore from Brazil – Sources
As per sources, KIOCL is likely to import an iron ore vessel of about 70,000 MT from Brazil at Mangalore port. The vessel is expected to arrive by end of this month ore early Aug’16. It last iron ore import shipment was seen in Sept’15.
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