Jindal wants to operate iron ore mines in Karnataka
Indian steel producer
Jindal Group has recently demanded the Karnataka government to turn over its
iron ore mines at Ramanadurg to the company.
In line with the statement made by
Jindal Group, the company wants to operate
iron ore mines in Karnataka to ensure stable source of raw material for its existing plants.
According to the Geological Survey of
India, the region has reserves of 120 million tons of
iron ore.
Jindal announced that this figure will be sufficient to meet
iron ore requirement of the company for 25 years.
As previously reported by SteelOrbis,
Jindal Group also announced that it was planning to build a steel plant with a capacity of 5 million tons in Bengal. Moreover, the company plans to increase
production capacity. Since the company will need
iron ore to operate its upcoming plants and to increase its capacity, the
iron ore mines in Karnataka holds great importance for the group.
Moreover, the company expects these mines to reduce its costs.