India’s KIOCL Limited (formerly Kudremukh Iron Ore Company Limited) has planned downstream projects for value addition linked to a new iron ore mine to be allotted to it, a government official said on Tuesday, October 20.
The official said that the government of the southern Indian state of Karnataka has recommended the allocation of the Devari iron ore mine to KIOCL and that the latter has sought the expedited granting of all mandatory clearances to enable the miner to commence operation of the asset at the earliest possible time.
As part of its strategic plan to maximize returns from the iron ore mining asset, KIOCL has drawn up products for value addition which include construction of a 2 million mt per year capacity beneficiation plant and a 2 million mt pelletization plant linked to the mine, the official added.
According to a KIOCL official, the downstream units are in line with the Ministry of Steel’s focus on pushing for greater use of iron ore pellets by blast furnace-based steel mills and sponge iron producers.