Kudremukh Iron Ore Company to enter contract mining
29 Oct 2012
The Kudremukh Iron Ore Company Limited (KIOCL) is planning to explore possibilities of entering into an arrangement with mining-based PSUs such as NMDC, SAIL, OMDC, MOIL, NALCO, CIL, MMTC etc, for exploitation and extraction of iron ore and other minerals in their mines under mine developer and operator mechanism or under contractual mining mechanism.
KIOCL, a public sector undertaking under the ministry of steel, is a 100 per cent export oriented unit in the Mini Ratna category.
KIOCL said it has vast human and capital resources that can be put to better use its expertise in the fields of mining, iron ore beneficiation and pelletisation.
KIOCL said it was also looking to aggressively expand its pellet production capacity by setting up the pellet plants in iron ore belt by utilising low grade iron ore fines available with PSUs like SAIL, NMDC, OMDC etc.
Discussions have been initiated with SAIL, RINL-OMDC, NMDC for setting up of pellet plants under joint venture mode, the company said.
KIOCL is also establishing a chemical laboratory at Sandur, in Hospet taluk in Karnataka for iron ore quality testing services to outsiders, besides own usage while participating in e-auction.