November 20, 2008

KIOCL to use idle pallet capacity for third party jobs

BL reported that Kudremukh Iron Ore Company Ltd is negotiating with NMDC, Ispat Industries, JSW Ltd and Mysore Minerals Ltd to secure conversion jobs to utilize spare capacity of its pellets plant and hopes to firm up the necessary contracts within the next six weeks.

According to the proposal, the company will receive ore from the contracted parties for conversion into pellets.

Mr K Ranganath CMD of KIOCL told BL that “We are negotiating with a number of domestic players having interests in the mines and minerals sector and iron and steel production for conversion of up to 1 million tonne of iron ore to be supplied by them,”

KIOCL is at present sourcing only 2.5 million tonnes of ore annually from NMDC as against a pellet manufacturing capacity of 3.5 million tonnes.