KIOCL Limited reports on current year performance  | Azad Times

Mangaluru: KIOCL Limited’s performance during Financial Year 2022-23, levy & withdrawal of 45 per cent Export duty on Iron Pellets

The production activities of KIOCL Limited had to be stopped temporarily with the imposition of a 45 per cent Export duty w.e.f. May 22, 2022, by the Govt. of India, since the same was economically unviable.

The withdrawal of 45 per cent Export duty on Iron Ore Pellets w.e.f. 19.11.2022 by Govt. of India, had significantly helped in the growth and progress of the Company. The aforesaid 45 per cent
Export duty on Iron Ore Pellets was imposed in the month of May 2022. Being an EOU,
it affected heavily to Company and the Company’s production activities had to be stopped
temporarily in view of the unviable operation. During the half year ended 30 per cent September,
2022, the Company incurred a loss of Rs.146 crores. Post removal of export duty, the company is striving hard to overcome the challenges.

2. Devadari Mines status

MoEF & CC, Gol vide letter dated Dec 16, 2022, accorded Stage-ll Final Forest Clearance approval for the Devadari Iron Ore and Manganese Ore Mining Project under Forest (Conservation) Act, 1980 for the diversion of 388 ha of forest land out of 470.40 ha in the notified area along with 13.5761 ha for the Conveyor corridor, approach road, power transmission line/water line, totalling 401.5761 ha in Swamimalai (SM) Block Forest, Sandur Taluk, Ballari Dist, (388 ha for Mining Lease area + 10.4727 ha for Conveyor corridor + 0.7284 ha for approach road+ 2.3750 ha for power transmission line/water line).

The Company executed the mining lease deed of Devadari Iron Ore Mine with Director, Mines and Geology, Govt. of Karnataka on Jan 2, 2023, for 388 ha area for a period of 50 years for Iron Ore and Manganese Ore.

Thereafter, the Company registered the Mining Lease Deed of Devadari Iron Ore Mine on Jan 18, 2023, at the Office of Sub-Registrar, Sandur Taluk, Ballari Dist and paid Rs. 329.17 Crores towards stamp duty and registration charges

3. Mineral Exploration Works
Mineral Exploration Laboratory has been established at our Blast Furnace Unit, Mangalore, which is NABL accredited for the testing of Iron Ore, Limestone, Manganese, Bauxite, Dolomite and Alumino Silicate Refractory material.

KIOCL also entered into a regime of extending Mineral Exploration services to private mining companies and making efforts to secure additional Mineral Exploration Projects in the Base metal and Bulk Mineral Sector in Karnataka State from NMET, Govt. of Karnataka, Central PSUs and Private Enterprises.

4. Blast Furnace Unit – status

The activities related to the construction of the 1.8 Lakh TPA capacity Coke Oven Plant at Blast Furnace Unit, Mangalore are in progress.

5. CSR Activities 2022-23
The execution of CSR Projects/activities is going on smoothly in coordination with local authorities and all projects and activities. Out of the total CSR budget, the Company has earmarked a sum of Rs.2.22 crores for various projects/activities in Dakshina Kannada district / Mangalore areas.

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