Vedanta has Iron Ore Operations in Goa, Karnataka and Liberia. The Company has large iron ore mines in Goa and Karnataka and a pig iron plant in Goa, and consists of exploration, mining and processing of iron ore, pig iron and metallurgical coke and power generation. The mining operations are carried out at the Codli group and the Sonshi group of mines in Goa; the Narrain mines at Karnataka, a Met coke and a Pig Iron plant at Goa. The iron ore business also has a power plant at Goa in India for captive use.
Vedanta is the largest producer exporter of iron ore in the private sector in India. Vedanta's iron ore business in Goa caters primarily to the global seaborne iron ore trade due to its logistical proximity to the port along with inland waterways. Goan low grade exports are primarily destined for Chinese steel mills, who are able to blend the low grades with other high grade expensive ores from Brazil and Australia. The iron ore business in Karnataka caters primarily to the domestic steel industry in the state of Karnataka.
At Karnataka, production recommenced on February 28, 2015, following receipt of all requisite clearances and approvals, at an annual capacity of 2.29 mtpa. During the fiscal year FY16, production was at 3.0 million tonnes.
During Q4 FY 2014-15, the Ministry of Environment and Forest revoked its earlier order which had kept the environmental clearances for iron ore mines in Goa in abeyance. We were allocated an interim capacity of 5.5 mt of saleable ore.
On August 10, 2015 the company announced reopening of its Codli mine in Goa. The inauguration ceremony at Vedanta’s Codli mine was graced by Mr. Laxmikant Parsekar, Hon’ble Chief Minister of Goa. With this, Vedanta became the first company to restart iron ore mining in Goa. During August 2015, production recommenced in Goa after obtaining all necessary approvals to produce 5.4 million tonnes per annum of saleable ore. During the year, production was 2.2 million tonnes with sales of 2.2 million tonnes. These include 1.4 million tonnes of traded ore purchased from the e-auction.
The company's iron ore business also comprises Western Cluster Limited (WCL) in Liberia, which has iron assets and is wholly owned . WCL's assets include development rights to Western Cluster. The company expects to progress exploration and commission a feasibility study in early 2017.
As our mines return to production and domestic demand expands, we remain positive about the future.
For further information please click on the below link:
Vedanta Limited-Iron Ore