JISCO wants to operate its own iron ore mines

JISCO wants to operate its own iron ore mines

Indian steel producer Jindal Iron and Steel Corp (JISCO) is reportedly seeking the government's permission to operate its own iron ore mines in order to reduce its manufacturing costs. The company currently obtains iron ore supplies from the mines of Vijayanagar Minerals (VMPL). The company applied to the government to operate iron ore mines at Ramanadurg to meet its iron ore requirement in the long-run. The mines at Ramanadurg are stated to have reserves of 120 million tons. The company, by procuring a stable iron ore source, plans to increase its annual production capacity from 2.5 million tons to 3.8 million tons.