mangalore today

KIOCL - new hopes to get mines

Mangalore Today News Network

Mangaluru, April 18, 2015:   Speaking to media at the international conference on global challenges, policy framework and sustainable development for mining of mineral and fossil energy resources: 2015: at NITK, Surathkal here on April 17, Friday,  Kudremukh Iron Ore Company Limited (KIOCL) Chairman and Managing Director Malay Chatterjee stated  that the company is discussing with the Chief Minister for new mines and it is hopeful of getting new ones under the Mines and Minerals (Regulation and Development) Act. The company will claim its Rs 19 crore security deposit with the government, which is matured to Rs 40 crore at present.


He also sated that the KIOCL has followed the best mining practices and the empowerment committee which visited the company, had mentioned that there is no need of stabilisation of slopes. The company has planted around 16 lakh saplings. The union steal ministry has also recommended the company for new mines, he said.

Three MoUs have been signed to carry out mining in Ananthpur district of Andhra Pradesh and sent to the Union government for approval. There is around 40 million tonne magnetite and iron ore available.   The KIOCL and APMDC will jointly install different plants with a capacity of 1.2 million tonnes per annum depending on availability of the ore.   At present, the company is providing service to MRPL open plant, it is managing and maintaining the National Mineral Development Corporation (NMDC) at Donimalai with1.89 MT capacity plant operation and charcoal plant of Orissa Mining Corporation, he said.

Oil prices  :  Mangalore Refinery and Petrochemicals Limited (MRPL) former managing director P P Upadhya said that big fluctuations  in crude oil price has become a problem for the oil firms, especially in India where 80 per cent of the crude oil is imported.  The crude oil price which was in and around 140 dollar per barrel is now at 56 dollar per barrel. Upadhya said that oil companies can not  compromise  environment issue.

General Ideas :   NITK Director Swapan  Bhattacharya analyzing  matters from common man’s point of view; in his presiding address said that when crude oil price decreases so much, why there is only negligible decrease in petrol or diesel price. He said that all research should have last line of society in mind. The policies should not harm socio- economic fabric.

Chief guest former union principal advisor (power and energy) and core climate negotiator Surya P Sethi said that with the new mining policy of the government with more opportunity to foreign investment, no miracle is expected to happen. It is not true that with the sale of coal blocks,   power prices would come down and world is going to be a great place to live.

Proceedings of the two-day event and souvenir were released on the occasion. GCPF Chairman M Govinda Raj, Mining Department Head M Aruna, Organising Secretary Harsha Vardhan were present.