Bengaluru-based public sector undertaking KIOCL Ltd. on Monday said it has entered into a pact with Karnataka government for mineral exploration in nine manganese and iron ore blocks in the state at an estimated cost of Rs 81.53 crore.
"Work agreement had been entered into between KIOCL Ltd. and Dept. of Mines & Geology, Govt of Karnataka...for carrying out mineral exploration by KIOCL Ltd for manganese and iron ores in nine identified blocks in Bellary and Chitradurga districts of Karnataka at a total estimated cost of Rs 81.53 crore plus GST," the state-owned firm said in a BSE filing.
KIOCL Ltd. -- formerly known as Kudremukh Iron Ore Co. Ltd. -- is a company under the steel ministry. The company has experience in operating iron ore mining, beneficiation and ironoxide pelletisation in the country.
KIOCL has 3.5 million tonne per annum iron-oxide pellet plant to manufacture pig iron at Mangaluru, Karnataka.
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