Team News Riveting
Mumbai, June 15
KIOCL Ltd (formerly known as Kudremukh Iron Ore Company Ltd) has resumed the operation at its pellet manufacturing plant in Mangalore.
The unit was shut down from May 13, 2023 to carry out preventive maintenance of the Plant.
KIOCL, a flagship company under the Ministry of Steel was formed on 2 April 1976 for Mining and Beneficiation of low grade iron ore at Kudremukh, informed the stock exchanges that the operations of Pellet Plant Unit of the Company at Mangalore have been restarted today i.e., with effect from June 15, 2023.
The firm had shut its operations for five months last year during June-November owing to a 45 per cent export duty imposed by the government from mid-May. The company informed the stock exchanges that the operation of company’s pellet plant has once again been temporarily suspended ‘shed full condition’. This condition resulted out of lack of demand in domestic market, and unviability in international market in view of duty imposed on export of pellets by the Government through its notification dated May 21.
KIOCL received a mining lease grant from the Karnataka state government for iron ore and manganese ore mining in the Devadari range located in the state’s Ballari district at the beginning of this year.
The company has been a pioneer with over four decades of experience in operating Iron Ore Mining, Beneficiation and Iron–Oxide Pelletisation in the Country. KIOCL is having facilities to operate 3.5 MTPA Iron-oxide Pellet Plant, Blast Furnace Unit to manufacture 2.16 lakh tonnes per annum Pig iron at Mangalore, Karnataka.
