Mangaluru: The Ministry of Environment and Forest has agreed to Approval Phase 1 on the principle for the transfer of 401.5 hectares of forest land in devastating the Hill Range in the Ballari District for iron and manganese mining by Kudremukh iron ore limited (KIOCL).
Kiocl Cmd M V Subba Rao told reporters on Monday that the agreement was given on June 24.
After meeting certain requirements, they will get the second and last approval.
Mining activities in new prisoners’ mines are likely to start from the next financial year.
After a gap of almost 15 years, Kiocl gets mine who is a prisoner.
“This will provide the security of raw materials and the quality of our products will also increase,” he said.
The total expenditure of new mining activities will be around RS 1,500 Crore, where RS 300 Crore will be used for pre-mining activities.
This project is expected to produce around 1,000 jobs, where 50% will be direct work.
Until commissioning pellet plants, which are most likely in the second phase, mineral minerals will be taken to a pellet plant in Mangaluru.
Kiocl has continued its efforts to expand the pellet market to the international market such as Brazilian and Middle East countries and North Africa (MENA).
The Chinese market section is 44%, the MENA countries’ countries are 41% and the rest of Brazil and Malaysia, said Rao.
As part of the modernization of a 3.5MTPA pellet mill, KIOCL has installed a barrel type reclaimer of 1,000 tons per hour capacity at a cost of Rs 17.5 Crore in Mangaluru.
Reklamer Blender Type Barrel Homogenely combines various types of iron ore fines received from various sources.
In the financial year of 2020-21, pellet production reached 2.21 million tons as against 2.37 million tons of previous financial years.
Pellet exports are 1.84 million tons and domestic sales are 0.46 million tons.
Karnataka: Kiocl gets a nod principle for mining in Hill Devadari
