|
Accordingly, the company has proposed to raise its iron ore production from 1.60 MTPA to 4.50 MTPA while retaining the manganese ore production at 0.55 MTPA.
The company will set up a 7 MTPA ore beneficiation plant, 1.2 km down hill conveyor system and 0.15 MTPA crushing & screening plant of iron ore and manganese ore in the company's mining lease area of 1,860.10 hectares.
The Sandur Manganese and Iron Ores (SMIORE) mines low-phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It is the fifth-largest iron ore miner in Karnataka and the second largest private miner of manganese ore, and is the flagship business of the royal family of Ghorpade. SMIORE has a 95,000 TPA ferroalloy plant, a 32 MW captive power plant and a 0.5 MTPA coke oven plant with two waste recovery boilers.
The company had reported 62.12% fall in net profit to Rs 41.24 crore on a 21.12% decline in sales to Rs 387.92 crore in Q3 FY23 over Q3 FY22.
|