Millennium Post

IDCO, Indian Rare Earth to set up Odisha mineral separation plant

As part of its diversification programme, state owned Industrial Infrastructure Development Corporation (IDCO) on Saturday signed an MoU with public sector Indian Rare Earth Ltd (IRE) to set up a mineral separation plant in Odisha’s Ganjam district. The cost of this project is pegged at Rs 450 crore. IDCO CMD Vishal K Dev and IRE CMD R N Patra have executed the MoU at the State Secretariat here in the presence of Industries minister Devi Prasad Mishra.

IDCOL has applied to the state government for grant of mining lease/prospecting licence for Beach Sand mining over an area of about 6,000 hectares in different villages along the Ganjam Coast. Initially, the IDCO has planned for Beach Sand mining over an area of about 1,257.03 hectares, Dev said adding that Odisha is gifted with a Coast line of about 470 km.

“The estimated reserve is more than 100 million ton of beach sand heavy minerals which remains mostly untapped,” the IDCO release said. “It is a new activity for IDCOL and the project will be implemented through a JV to be promoted by IDCO and IREL,” said Dev adding that technical aspects of the extraction of heavy minerals too were discussed by scientists at a workshop organised by the Industries Department recently.
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