August 7, 2008
August 7th (Steel Guru) – It is reported that the Kudremukh Iron Ore Company Limited has created a railway unloading facility at the marshalling yard of New Mangalore Port Trust.
Mr K Ranganath C MD of KIOCL said that the company has laid exclusive railway lines for handling iron ore brought from Bellary by rail rakes.
He said that “We are expecting to get at least 2 or 3 rakes of 3,000 tonnes each a day. Presently railway wagons are moving through Konkan railway facilities.”
July 20, 2008
July 20th (Sify) – Kudremukh Iron Ore Company Ltd (KIOCL) is negotiating with NMDC, Ispat Industries, JSW Ltd and Mysore Minerals Ltd (MML) to secure conversion jobs to utilise spare capacity of its pellets plant. According to the proposal, the company will receive ore from the contracted parties for conversion into pellets.
The company also plans to appoint an internationally reputed agency to prepare a detailed report on the possibility of resuming mining operations at the closed Kudremukh mine without disturbing the ecology. The process to appoint the consultant may begin in the next two months. The mine was closed in January 2006 following a Supreme Court order on environmental concerns.
June 27, 2008
June 27th (Steel Guru) – It is reported that Kudremukh Iron Ore Company Limited is likely to start mining operations at Chikkanayakana by November 2009.
The mine is expected to produce 1 million tonnes per annum of ore, out of a total requirement of 3.5 million tonnes per annum pellets plant. It is learnt that the following reserves allocation by the centre, the Karnataka government has awarded the mining lease to KIOCL for 116.55 hectare in Humbalghatta in Tumkur district. The deposit is estimated to have a mineable reserve of 10 million tonnes per annum.
May 30, 2008
May 30 (Financial Express) – The Orissa government is all set to recommend the Khandadhar iron ore mines to South Korean steel major Posco. Its recommendation letter is likely to be dispatched some time in the first week of next month as all formalities related to the hand-over have been carried out.
There were as many 237 applicants for the mines. The state government on December 26, 2006, recommended Posco India to the Centre for a licence to carry out prospecting over 6204.352 hectares of the Khandadhar mines in Sundergarh district. The Centre initially rejected the state government’s recommendation of Posco.
In October 2007, the state government asked the applicants to submit their papers by the end of the month. There were initially 290 applicants for the mines, before the state government got rid of 53.
The major applicants were Central-sector Kudremukh Iron ore Company Ltd (KIOCL) and the Jindals. Sources in the government told FE, “Now that the formality is over, the state government will recommend Posco India to the Centre for a PL.” The state government, in fact, had given the Khandadhar mines to Central-sector Kudremukh Iorn Ore Co Ltd (KIOCL) for prospecting.
Three years ago, KIOCL, which comes under the control of the steel ministry, negotiated for a mining lease and entered into an agreement with state-run Kalinga Iron Works to set up a pelletisation plant. KIOCL had invested Rs 1.6 crore on drilling and prospecting Khandadhar mines. But the state government recommended Posco for a PL instead of KIOCL, which challenged the state government’s decision in the Orissa High Court.