Karnataka's small, medium miners plan to float pellets and steel company

Small and medium miners in Karnataka are planning to form a consortium and float a company to manufacture pellets and steel.  The development comes at a time when the steel industry is importing iron ore, instead of sourcing it from Karnataka, due to cost variation and alleged quality issues.

While welcoming the miners’ decision, the Federation of Indian Mineral Industries (FIMI) South said that this value addition will be good for the industry.

Basant Poddar, managing director, Mineral Enterprises Limited (MEL) and Member of FIMI South, said, “Such ventures are the need of the day as it will augment resources