KIOCL Share Price

With its headquarters in Bangalore and its pelletization and pig iron production facilities in Mangalore, Kudremukh Iron Ore Company Limited (KIOCL) is a Miniratna Government of India Enterprise. In 1976, the firm was founded as a "100% Export Oriented Unit" to expand its mining and processing operations abroad. The company's core focus is mining, beneficiation, and pelletization of iron ore. It has branched into other areas, such as operation and maintenance services and mineral exploration, which need different types of knowledge. In 1980, operations at the mine and processing facility began, and by October 1981, concentrate had begun to be shipped.

In 1987, a pelletization facility with an annual output of 3 million metric tonnes was implemented to produce high-quality pellets for blast furnaces and direct reduction for export. Within the expected budget of US$ 630 million, a 110 km road was constructed across the ghats, and a slurry pipeline to Mangalore Port was delivered on schedule.

To establish a Pig Iron & Ductile Iron Spun Pipe Plant in Mangalore, the business went into a Joint Venture with MECON & MSTC. Kudremukh Iron & Steel Company was founded specifically for this reason. The complex was built in the Baikampady Industrial district of Mangalore, and its blast furnace has a capacity of 350 cu. Mtrs.

This allows it to produce 227,000 tonnes of high-grade pig iron with low phosphorus and low sulfur content per year using excellent pellets from KIOCL's pelletisation unit. Beginning in 2001–2002, pig iron manufacturing began. KIOCL has been awarded the ISO 14000 accreditation for its commitment to environmental responsibility.

The firm has requested a mining lease in the Chikkanayakanahalli region of Tumkur District and the Chiria portion of Singhbhum District, Jharkhand, from the government of Karnataka. The corporation has chosen not to go through with the project because of the poor resource grade there. As part of its goal for backward integration and import substitution, Mangalore is looking into building a Coke Over plant with a capacity of 30 MW to sit adjacent to its Blast Furnace.

During their 238th meeting in April of 2016, the Board of Directors recommended listing Equity Shares with National Stock Exchange to increase the company's profile in the marketplace. After that, on November 29th, 2016, the company officially became traded on the National Stock Exchange under the ticker symbol "KIOCL."

On June 22nd, 2013, in Hyderabad, KIOCL, APMDC, and RINL signed a memorandum of understanding (MoU) to jointly explore and mine the Nemakal iron ore deposit in the Ananthapuram District of Andhra Pradesh. Subsequently, on November 30, 2015, the Government of Andhra Pradesh issued a notification under Section 17A(2) of the Mines and Minerals (D&R) Act 1957, reserving an area of 1,327 hectares for Iron Ore in Minchery R.F. of Kalyandurg Range in the Ananthapuram District in favour of M/s A.P.Mineral Development Corporation Limited (APMDC).

The Andhra Pradesh Mineral Development Corporation (APMDC) has applied to the Andhra Pradesh Petroleum Conservation Foundation (PCCF) for approval to drill twenty exploratory holes in the region above. The drilling area is now being restricted using a DGPS survey. Once KIOCL and APMDC have received permission to dig through the forest, they will work together. The exploration drilling results will be used to inform the development of a TEFR for constructing a beneficiation plant and pellet mill.

On January 8, 2016, the Company and West Bengal Mineral Development and Trading Cooperation (WBMDTCL) signed a memorandum of understanding (MoU) to establish a joint venture to explore and develop iron ore deposits and other minerals in the Indian state of West Bengal. The Company and WBMDTCL will create a joint venture with an equity split of 51% to 49%. The Company and WBMDTCL jointly designate iron ore blocks to put forward a proposal to the State Govt. for the reserve of iron ore blocks in favor of the JV Company. Do you want to know more about KIOCL Shares? Click Here to know about KIOCL Share Price for today.