India: Prakash Industries Ltd Commences Iron Ore Mining Operations at Captive Mines

Prakash Industries Ltd (PIL) - one of the major steel producers in Central India informed that after the execution of the Mining Lease and obtaining all statutory clearances, the company has commenced the mining operations in the Sirkagutu Iron and Manganese ore mine of the company at Keonjhar (Odisha). The said Iron ore mine has geological reserves of around 9.9 MnT.

The state govt. of Odisha had executed a mining lease of Sirkaguttu Iron & Manganese ore mine in favor of the Company in Keonjhar District of the State on 11th Jan'17.
The company recorded the highest ever production of 0.97 MnT of Steel Billets during FY2019. It also recorded the highest ever sales volume of 0.94 during FY'19, registering growth of 20% Y-o-Y.

The company has an integrated steel plant in Chhattisgarh with finished steel capacity of 1.1 MnT.