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.