Bengal government all set to tap iron ore resources

The Bengal government is set to start exploration into iron ore resources. KIOCL Limited, a Central government enterprise, which has joined hands with Bengal government, has already made its roadmap and various other important steps for going ahead in the exploration process.

Malay Chatterjee, Chairman-cum-Managing Director, KIOCL Limited, had a free-wheeling chat with Millennium Post on Saturday and said that they are only waiting for the joint venture agreement to be signed with the Bengal government.

"In Bengal, the iron ore resources has not been quantified or explored. So the government of Bengal has a constant approach to join with public sector unit like Kudremukh (KIOCL), which has got exploration as well as beneficiation," Chatterjee said.

It may be mentioned that in the mining industry, 'beneficiation' is a process that improves the economic value of the ore by removing the gangue minerals. "We have joined hands with West Bengal Mineral Development and Trading Corporation Limited. We have signed a Memorandum of Understanding (MoU) a year back to take up the exploration activity on behalf of Bengal government," he added.

"We are going to have a Joint Venture Agreement, which is already in place. A joint exploration team will be framed, which will start exploration of mining assets in Bengal," he further added.

KIOCL will ascertain the possibility of getting minerals in the state. They will make a pre-feasibility report. Depending on that report, they will go ahead for beneficiation and pelletisation technique.

The process of pelletisation enables converting iron ore into uniformed sized iron ore pellets, which can be charged in blast furnaces. The Direct Reduced Iron (DRI) can also be prepared from it.

"The government of Bengal can go for making steel plant, if enough mineral reserve is found," Chatterjee said, further adding: "The geographical survey of India indicated mineral reserve. For exploring a mineral reserve, we need to follow a process."

"So far, in India, our investment in research and development and exploration is very less. We are going in for the exploration only after the required act has come," he said.

However Chatterjee also said that the state government has approved the decision in Cabinet. They are waiting for the joint venture agreement.