ArcelorMittal India Private Ltd. (AMIPL) has commenced mining operations at its Thakurani iron ore mine in the district of Keonjhar, Odisha, the company announced on Thursday.
The Thakurani block has estimated reserves of about 179 million tonnes and has an annual production capacity of 5.5 million tonnes, which can be scaled up to 8 million tonnes.
In February 2020, AMIPL was selected preferred bidder for the Thakurani iron ore mine license following an auction process conducted by the Odisha state government, in which AMIPL agreed to pay a 107.55% premium per tonne, as well as other royalty and duties, ensuring strong revenue contribution to the State of Odisha.
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