core sector communique

SAIL plans big for iron ore mining

DNA reported that Steel Authority of India Ltd p expects to receive feedback from Hatch Associates of Australia, a consultant earlier appointed by SAIL for preparing a detailed project execution report for the development of Chiria iron ore mines with an estimated reserve of two billion tonnes of high grade iron ore, in 3 to 4 months.

Mr CS Verma chairman of SAIL said “Our plan is to reach an annual ore production of 5 million tonne a year within the next three years and then eventually scale it up to 15 million tonnes.”Mr Verma said “Development of Chiria would help SAIL meet some of its annual iron ore requirement, which is expected to almost double to 42 million tonnes from the present 24 million tonnes by 2012-13 as the company expands steel production to 21.40 million tonnes by that time.”