Sarda Energy & Minerals – Raipur (Chhattisgarh) based steel maker has restored operations at its iron ore mines after a span of nearly 8 months. The company in a corporate announcement stated that the operations at the iron ore mine of company which were suspended on 07 Mar’16 due to naxal attacks has been restored.
The steel maker’s iron ore mine is located in the Rajnandgaon, Chhattisgarh with potential reserves of 20 MnT and annual output of around 0.2 MnT.
Company’s product line includes pellet, sponge iron, billet, ingot, rebars and ferro alloys.
During suspension of mining operations at its captive iron ore mines, the steel making company was dependent on merchant market.
Sarda Energy & Minerals sourced 0.23 MnT iron ore from Apr’16-Oct’16
In first seven months of this fiscal (i.e. Apr’16-Oct’16) the steel maker has sourced 0.23 MnT iron ore from merchant market.
Resumption of operations at its captive mines will reduce its iron ore sourcing from merchant market.
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