Odisha Mining Corporation

he judge held the CBI had failed to prove beyond any reasonable doubt that any "misrepresentation" was made by the accused

Hindalco Industries Ltd on Thursday said it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore. The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha. This will be Hindalco's second alumina refining plant in the Rayagada district of Odisha. "Hindalco Industries will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada district," the company said in a regulatory filing. The total proposed investment of Rs 8,000 crore will be in two phases. The first phase of one million tonnes is likely to be commissioned in FY'27, at an investment of Rs 5,500 crore. Hindalco is one of the country's leading aluminium manufacturing companies.

Iron ore producer Odisha Mining Corporation paid a dividend of Rs 1,420 crore to the state government for the 2022-23 fiscal, an official said on Thursday. Steel and Mines Minister Prafulla Kumar Mallik handed over a cheque of Rs 1,420 crore to Chief Minister Naveen Patnaik here on Wednesday, he said. Odisha Mining Corporation, one of the largest iron ore producers in the country, recorded a turnover of Rs 14,450 crore in the 2022-23 financial year. It has 18 operational mines and produced 29.68 mt of iron ore, 3 mt of bauxite and 1.08 mt of chrome ore, registering a 14.9 per cent growth in ore production over the previous financial year, the official added.

OMC signed an agreement with Odisha Adarsha Vidyalaya Sangathan to set up five 'Mining Adarsha Vidyalayas'

The Odisha Mining Corporation contributed an amount of Rs 500 Crore to Odisha Chief Minister's Relief Fund

Alumina production at Lanjigarh was up 16 per cent y-o-y to 476,000 tonnes

The six PSUs are MMTC, National Mineral Development Corporation, Bharat Heavy Electrical Ltd, Odisha Mining Corporation, Odisha Investment Corporation and MECON

Stakeholders feel these blocks may lose out to the lapsing merchant blocks where it will be easier to recommence mining and achieve seamless production and despatch

Lack of clarity on overburden dumping area use has also impeded progress of the commercial coal mine

The Odisha government has slapped a demand notice on a string of chrome ore miners including its own PSU Odisha Mining Corporation (OMC).The demand notice seeks to recover Rs 32 billion for overproduction of chromite ore beyond the statutory limits. Notices have also been despatched to others like Tata Steel, Balasore Alloys, Ferro Alloys Corporation (FACOR), Indian Metals & Ferro Alloys Ltd (IMFA), Jindal Stainless Ltd, B C Mohanty, Mishrilal Mines and Industrial Development Corporation Ltd (IDCOL).The chromite leaseholders have been asked to shell out their share of compensation by May 10.Notices to chrome ore mines follows similar demand notices first served on iron and manganese ore mines and lately on Coal India subsidiary Mahanadi Coalfields Ltd (MCL). The state mines department after a Supreme Court order pronounced on August 2 , 2017 on illegal mining case in Odisha, had raised a demand amounting to Rs 175.76 billion on 131 iron ore and manganese mines. Later, MCL faced a .

At the inaugural e-auctions, OMC has offered 190,000 tonnes of bauxite drawn from its captive lease at Kodingamali in southern Odisha

State controlled mining entity, Odisha Mining Corporation (OMC) has failed to benefit from its investments sunk into 12 joint venture (JV) companies. The JVs were forged across sectors that ranged from iron ore to bauxite mining and coal extraction to power transmission.A report on the Public Sector Undertakings for the year ended March 31, 2017 shows at the end of 2016-17, OMC had invested Rs 40.8 billion into the JV companies. But, none of the JV projects were completed (as on October 2017). Non-commissioning of projects was primarily due to delay in finalisation of project development agreements, failure to obtain forest clearance and inadequate monitoring by JV partners. Consequently, OMC could not derive the envisaged benefit from these projects.The JVs formed by OMC include Rio Tinto Orissa Mining Pvt Ltd, Odisha Thermal Power Corporation Ltd (OTPCL), Nuagaon Coal Company Ltd, Kalinga Coal Mining Pvt Ltd, Neelachal Ispat Nigam Ltd (NINL), Keonjhar Infrastructure Development ...

The Office of the Comptroller & Auditor General of India (CAG) has rapped state owned Odisha Mining Corporation (OMC) for failing to achieve the production targets of iron ore and chrome ore during 2012-17.As OMC failed to achieve the targets, it resulted in a shortfall of 11.4 million tonnes of iron ore and 270,000 tonnes of chromite ore during the period. OMC lost the opportunity to earn revenue of Rs 18.38 billion, the central auditor observed in its report on Public Sector Undertakings for the year ended March 2017. The state government in its reply to the performance audit said that the production target of OMC was revised considering constraints and situations prevailing at that time. Besides, obtaining different statutory clearances were not in the control of OMC. The central auditor felt that the reply was not acceptable as process of obtaining statutory clearances was delayed by OMC itself in most of the cases.The CAG report goes on to say that OMC could not achieve its ..

State owned mining entity Odisha Mining Corporation (OMC) is gearing up to hold its first ever national e-auctions for bauxite. The auctions are expected to be conducted on the MSTC platform in April.OMC has started mining activity at Kodingamali lease. Bauxite extracted from this mine would be offered for auctions. Preference would be given to end use industries at the auctions. The surplus stock left after meeting the requirement of such industries could be offered to traders. OMC is yet to take a call on the quantum of bauxite to be offered at auctions.The mining PSU would offer 30 per cent of its saleable bauxite stock at auctions. The balance 70 per cent is earmarked for long-term linkage as per the terms set in the bauxite linkage policy approved recently by the Odisha Cabinet.OMC has invited notice from applicants for registration to participate at the national auctions for bauxite. The deadline for registration is March 23.For long-term linkage (LTL), OMC has floated an ...

The decision of the Odisha government to allow state run mining entity- Odisha Mining Corporation (OMC) to operate all its iron ore & manganese mines despite the corporation skipping payment of compensation for excess production at its Roida C block has seemingly irked the private miners.The state government has showed the Roida 'C' iron and mining lease to be operated by another PSU- Industrial Corporation of Odisha Ltd (IDCOL) and shut the operations of this mine for non-payment of compensation as ordered by the Supreme Court. But, government records, including its i3MS (Integrated Mines & Minerals Management System) blatantly point to OMC's status as the de facto lease holder of the mine.The Roida 'C' mine, along with 130 other leases, was slapped with a demand notice of Rs 105 crore as per the Supreme Court order for recovering cost of overproduction from miners for violating the environment clearance limits.When IDCOL defaulted in payment of compensation by the December ..

After a series of low turnouts at its e-auctions, state controlled Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on October 4.OMC offered 310,000 tonnes of lumps sourced from its Gandhamardhan, Daitari and Khandadhar mines. Nearly 80 per cent of the offered quantity was booked. This was despite OMC hiking floor prices by up to Rs 200 per tonne. Buyers said they booked more this time as merchant miners stuck to firm prices."OMC has raised floor prices on this occasion at the latest e-auctions. Despite this, the response is encouraging. This is because private miners have been ramping up prices on sustained demand. This has prompted steel companies and other end users to buy more from OMC as the price differential in iron ore compared to those sold by the merchant mining companies works out to be Rs 400-500 per tonne", said a senior official with a steel firm buying ore from OMC.This time, OMC had ...

The state-run entity engaged in iron ore supplies to steel plants both within and outside the state.

Will offer 190,000 tonne of iron ore from flagship Gandhamardhan mines