From Our Special Correspondent
Daijiworld Media Network - Bangalore
Bangalore, Jul 2: Iron ore mining, the key raw material for steel companies, would be high on the agenda of a two-day international conference, ''Rebuilding Karnataka’s Iron Ore Mining and Steel Making Capabilities,” being held in the city on July 4.
It is imperative for all the stakeholders to look ahead and strategically plan for a sustainable business and prepare a roadmap for moving ahead, said Sachin Sehgal, Director of OreTeam, an iron ore and steel research house, the main organizer of the conference.
The conference would be attended by state ministers and Union Steel Ministry officials in addition to miners, steel makers and investors beises delegates from countries like China, Singapore and Australia
The conference would also discuss new opportunities in Karnataka along with the investment scenario.
Indian iron ore pellet industry and its usage in steel making will also be a focus area, which is being viewed as a major driver for the state’s iron and steel industry, Sehgal said.
“The Supreme Court’s recent decision to partially lift the ban on mining operations in Karnataka has opened a window of opportunity for the miners, steel-makers and entrepreneurs to kickstart their operations, especially through beneficiation and value addition technologies like pelletisation,” he said.
Karnataka’s iron ore production was estimated at 25-30 million tonnes (MT) before the state government and apex court had slapped ban on mining in 2010 and 2011, respectively.
The state government has urged the court to rework the cap on iron ore and fix the ceiling at 40 mt per annum against the 30 mt recommended by the Court’s Central Empowered Committee.
At present, the state has an installed annual capacity of 14.36 MT of steel, which requires about 25 MT of iron ore per annum.
The state government has signed MoUs with new steel companies for a combined capacity of 35.2 MT, which would require about 60 MT of iron ore per annum.