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KIOCL to explore iron ore, gold in two states

KIOCL will take up exploration of iron ore and gold in Tirupur (Tamil Nadu) and Mysuru (Karnataka), respectively. Union Steel Minister Chaudhary Birender Singh said that KIOCL has also been recognised as a mineral exploration entity under the MMDR Act 1957 for carrying out works in the country.

KIOCL, NMDC and RINL decides to build 13 MTPA slurry pipeline between Nagarnar and Vizag

Steel majors KIOCL, NMDC and RINL have decided to set up a 13 MTPA slurry pipeline between Nagarnar and Vizag for carrying iron ore with Rs 3,500 crore investment. MoU has already been inked between them for setting up a JV in which KIOCL will hold a 48 per cent stake. NMDC and Rashtriya Ispat Nigam Ltd will hold 26 per cent each.

Steel PSUs sign pact for Rs 3,500 cr slurry pipeline

Steel majors KIOCL, NMDC and RINL have decided to set up a 13 MTPA slurry pipeline between Nagarnar and Vizag for carrying iron ore with Rs 3500 crore investment. MoU has already been inked between them for setting up a joint venture in which Kudremukh Iron Ore Company (KIOCL) will hold a 48 per cent stake. NMDC and Rashtriya Ispat Nigam Ltd will hold 26 per cent each. International technology / equity partner may be roped in to join the project at a later stage. The slurry pipeline will be used

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RINL expects to double its export revenue to Rs 1,200 cr

On the rupee's depreciation and an increased thrust on overseas shipments, Rashtriya Ispat Nigam (RINL) or Vizag Steel is expecting its export revenue more than doubling around Rs 1,200 crore in the near future.

Govt to up steel demand in rural areas

To increase the demand of steel in rural areas and to boost steel consumption, the Union Minister of Steel, Beni Prasad Verma has been stressing on the need for setting up Steel Processing Units (SPUs). The effort aimed at bridging the disparity between the national consumption of 60 kg of steel per man per year and rural consumption of 10 kg per man per year.

RINL set to mine low-grade iron ore in Rajasthan

The Rajasthan government offered the letter of intent (LoI) to state-owned RINL, which is also called Vizag Steel, to develop low-grade iron ore mines in Bhilwara district. The mine, which is spread over 900 hectare and with an expected reserve of 230 million tonne, would be the first captive mine for RINL. So far, the firm sourced iron ore

Cabinet allows SAIL, RINL to charter ships directly

State-run steel makers SAIL and RINL received approval from the union cabinet to charter ships directly without going through the government's chartering organization TRANSCHART for importing coal and other raw materials. The move would facilitate better control of logistics, shipping and operations of importing coal and other raw material from overseas, a government statement

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