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Adhunik Metaliks’ arm commences operations from Suleipat iron ore mine

Adhunik Metaliks Ltd. | Steel & Iron Products | Metals & Mining | BSE: 532727 | NSE: ADHUNIK

26 Dec 2011 Evaluate

Adhunik Metaliks’ 100% subsidiary - Orissa Manganese & Minerals (OMML) has commenced mining excavation as well as the dispatches from the Suleipat iron ore mine pursuant to receipt of working permission. It has all the required statutory clearances to produce 0.6 million tonnes per annum and the company is working to scale up the same to 3 million tons per annum. The mining plan of 3 million tonnes per annum has already been approved by Indian Bureau of Mines.

OMML has also started operation of its 1.2 million tonnes pellet and will reach optimum capacity utilization in months to come. The company is using low grade fines and after processing these through its beneficiation plant (1.2 million tonnes) it is making high grace pellets.

Earlier, OMML had entered into a joint venture (JV) with B. C. Dagara, the lessee of Suleipat iron mine. The above JV was approved by the Government of Orissa by giving single window clearance. The mine has obtained required forest approval (working permission) from MoEF to start mining operation in 294 hectares of forest land already broken up prior to 1980. If had earlier deposited the required net present value to the government to obtain necessary approval to start the mine. It got working permission for 70 hectares non forest area in October 2011.

Suleipat iron ore mine is located at Rairangpur in Mayurbhanj district of Orissa. The mine is spread over an area of 618 hectare with estimated resources of more than 80 million tonnes of high grade iron ore having average Fe content of 63.50%+ and production potential of about 3 million tonnes per annum.

Adhunik Metaliks is the flagship company of the Kolkata-based Adhunik Group of Industries and is engaged in manufacturing of wide range of special steels used for different applications in the fields of automobile, construction and engineering.

Adhunik Metaliks Share Price

0.49 0.00 (0.00%)

29-Nov-2019 18:01 View Price Chart

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Adhunik Metaliks’ arm commences operations from Suleipat iron ore mine

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