The KIOCL is on the path of recovery after having entered an Memorandum of Understanding (MoU) with Andhra Pradesh Mineral Development Corporation to undertake joint mining and pelletisation in Anantapur district.
The Karnataka-based company is also hopeful of the State government allotting a captive mine in the state, said KIOCL’s Chairman and Managing Director Malay Chatterjee on Friday.
Mr. Chatterjee was speaking to presspersons on the sidelines of an international conference on Global Challenges, Policy Framework and Sustainable Development for Mining of Minerals and Fossil Energy Resources, organised by National Institute of Technology, Karnataka, Surathkal, near here.
He said that preliminary works are on in Anantapur district where about 40 million tones of magnetite with more than 35 per cent iron core content is available. The KIOCL and APMDC would jointly undertake mining while KIOCL would do pelletisation to produce 1.2 million tons of ore every year.
Captive mine
Mr. Chatterjee said the Ministry of Steel recently promised to prevail upon the State government to get a captive mine allotted to KIOCL in Karnataka. KIOCL has done much to Karnataka and its rejuvenation too should be done through the state, the Ministry has said.
The CMD hoped that with the new Mines and Minerals (Development and Regulation) Act in place, the process of getting a captive mine should be easy. Karnataka Chief Minister would be approached again for the same, he said.
Kudremukh restoration
The environment committee established by the Supreme Court to monitor Kudremukh mining sites restoration has said that there has been natural restoration of the sites over the last eight years. There is no need for human intervention by way of constructing concrete bunds, Mr. Chatterjee said.
The company had planted over 15 lakh tree saplings which have grown well during these years thereby naturally restoring the environment in the region. As such, KIOCL would urge the Central government to return Rs. 19 crore deposited with it with interest to undertake other works in the state, he said.
