India’s KIOCL Ltd, formerly known as Kudremukh Iron Ore Company Ltd, has announced the resumption of operations at its pellet manufacturing plant in Mangalore. The plant had been temporarily shut down since May 13, 2023, for preventive maintenance.
KIOCL, a flagship company under the Ministry of Steel, informed the stock exchanges that its pellet plant unit in Mangalore has recommenced operations as of June 15, 2023. The company was originally established on April 2, 1976, with the purpose of mining and beneficiation of low-grade iron ore at Kudremukh.
Last year, KIOCL faced a five-month shutdown from June to November due to a 45pct export duty imposed by the government in mid-May. The company recently had to temporarily suspend operations once again due to unfavorable market conditions, including low demand in the domestic market and unviability in the international market following the government’s export duty on pellets.
Earlier this year, KIOCL received a mining lease grant from the Karnataka state government for iron ore and manganese ore mining in the Devadari range, located in Ballari district.
KIOCL’s Mangalore facility equipped with 3.5 mln tons per annum pellet plant and blast furnace unit for 216,000 tons per annum pig iron production.
