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State government reserves land for captive iron ore mining by SAIL VISP—The 19th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
8/29/2017 热处理展-工业炉展-heat treatment expo-furnace expo |
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The Hindu reported that state government’s decision to reserve 150 acres in Block 13/1 in Ramanadurga range of Sandur taluk in Ballari district for the Visvesvaraya Iron and Steel Plant, a public sector undertaking in Bhadravati, for allotment of captive mine for iron ore has come as a major relief for the firm that has been incurring loss for the past few years. The decision to reserve the land for captive mining operations was taken by the meeting of State cabinet on August 7, as per the Mines and Minerals(Development and Regulation) Act.
The reserved land will be handed over to VISP, owned by Steel Authority of India Limited (SAIL), after completion of the formalities.
The sanctioning of a captive mine was long demand of VISP. The captive mine in Kemmannugundi owned by VISP was decommissioned in 2004 following the expiry of the lease period. Since then, the firm has been purchasing iron ore in the open market resulting in an escalation in production cost and sharp decline in profit margins.
Mr Jagadeesh J, general secretary of VISP Workers'' Union, said that “The preliminary survey has revealed that the total iron ore deposit at the land is more than 25 million tonnes. The iron ore deposit here is of fine quality and will cater to the requirements of VISP for next 50 years.”
—The
19th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
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