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This is an archive article published on January 12, 2009

RINL sets sights on Kudremukh

State-run behemoth Rashtriya Ispat Nigam Limteds thirst for raw material security...

State-run behemoth Rashtriya Ispat Nigam Limteds RINL thirst for raw material security seems to be insatiable as it has now set its sight on merging the Kudremukh Iron Ore Company Limited KIOCL and has pledged to optimise synergy between both plants. RINL had recently won the governments approval for merging Orissa Mining Development Corporation with itself.

We are keen to merge KIOCL with us,especially as it would be a backward integration for us. With an estimated magnetite ore reserve of nearly 10 billion tonne,KIOCL would give us the much-needed raw material security. We will be approaching the steel ministry soon in this connection, RINL chairman and managing director RINL P K Bishnoi told The Indian Express.

Mining activities at the worksite at Kudremukh,110 km from Mangalore,came to halt from the end of 2005 with the Supreme Court confirming the status of Kudremukh National Park area over the present mines at Kudremukh. The Companys Mangalore units of pellet plant and blast furnace units are running with the outsourced haematite iron ore to convert into iron oxide pellets.

We would do the needful to optimise the utilisation of their pelletisation plant. For the beneficiation plant and the mines,we would make a suitable representation in the court and plead for enabling KIOCL to utilise the ore after taking all necessary environmental safeguards, Bishnoi pointed out. He reasoned that both the plants are located in the coastal zone and hence shipping their produce was a very viable proposition.

We would ensure a greater synergy and better integration of operations for the benefit of both the companies, Bishnoi said. When contacted steel secretary Pramod Kumar Rastogi reserved his comment adding that RINL should first make a formal suggestion. But steel minister Ram Vilas Paswan is keen that KIOCL is revived during his tenure.

 

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