The Kudremukh Iron Ore Company Ltd (KIOCL) had no captive mine with the closure of Kudremukh mines. But the mini-ratna PSU is hopeful of better days ahead after it signed a joint venture with Andhra Pradesh Mineral Development Corporation (APMDC). It is also strongly pitching for a captive mine in Karnataka, said KIOCL’s Chairman and Managing Director Malay Chatterjee on Friday.
He 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 the National Institute of Technology-Surathkal. Preliminary works were on in Anantapur district of Andhra Pradesh where about 40 million tonnes of magnetite, with more than 35 per cent iron core content was available. While KIOCL and APMDC would jointly undertake mining, it was KIOCL that would do pelletisation to produce 1.2 million tonnes of ore every year, he said.
Mr. Chatterjee said the Ministry of Steel had recently promised to prevail upon the State government to get a captive mine allotted to KIOCL in the State. KIOCL has done much to Karnataka and its revival should be done in that 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 would be easy.
He said he would approach Chief Minister Siddaramaiah for the same.
