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.
At Karnataka, production recommenced on February 28, 2015, following receipt of all requisite clearances and approvals, at an annual capacity of 2.29 mtpa. About 0.3 mt of saleable ore was produced during the quarter and the sales are expected to resume through e-auctions in Q1 FY2015-16. 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 have been allocated an interim capacity of 5.5 mt of saleable ore, where mining is expected to recommence post the monsoon season, after receipt of the remaining approvals from the Government.
On August 10, 2015 the company announced reopening of its Codli mine in Goa. With this Vedanta became the first company to restart iron ore mining in Goa. The company has received all approvals to restart mining at its Codli and Bicholim mines. Final clearances to other mines are expected to be granted by end of August. Post monsoon season, the company plans to fully resume mining and by the end of the current fiscal year, to utilise its full annual production allowance of 5.5 million tonnes.The inauguration ceremony at Vedanta’s Codli mine was graced by Mr. Laxmikant Parsekar, Hon’ble Chief Minister of Goa.
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 pace of the Liberia project execution has been impacted by the Ebola virus situation for most of the year. 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.
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Vedanta Limited-Iron Ore