Iron ore output of Orissa-owned firm to drop
By IANSFriday, March 26, 2010
BHUBANESWAR - The iron ore production of Orissa Mining Corporation (OMC) will fall short of its target for the current fiscal as three mines of the state-owned company have been closed for the past several months, its top official said Friday.
The production will fall short of its target by 10-15 percent, Managing Director Saswat Mishra said.
OMC possesses a reserve of 400 million tonnes of iron ore and operates 11 iron ore mines in the state. It sells most of its ore in the local market to cater to the need of domestic steel and sponge iron industries.
Mishra said OMC was hoping to produce about 75 to 80 lakh tonnes of iron ore during 2009-2010 which will not be achieved as its three mines were closed down. “There will be a drop of about 10-15 percent,” he told IANS.
OMC exports about two lakh tonnes of iron ore fines indirectly through export houses and traders. Mishra said the export will not be affected.
Investigations into illegal mining in Orissa by various state and central agencies started after some politicians alleged in July that some mines were operating without licences.
Operations at more than 100 mines in the state have been halted since then as officials found them working without statutory clearances.
