India resource major Vedanta Limited is seeking a partner for the conversion of one million mt of iron ore from its mines to pellets, a company announcement said on Friday, August 19.
Vedanta has invited submission of expressions of interest by August 27 from partners with the capacity to convert one million mt of iron ore produced from its mines across the states of Odisha, Karnataka and Maharashtra.
The contract with a partner will be based on a “tolling agreement” wherein Vedanta will be offering the raw material- iron ore - to the partner and the latter will be paid conversion charges based on the output of pellets.
The initial conversion contract will be offered for two to three years with the provision of an extension following review and assessment, Vedanta said.