The state-owned KIOCL will procure one million tonne (MT) of iron ore each from private miner Anglo American from Brazil and Gol Gohar Mining Company of Iran with the first shipment expected next month.
KIOCL (earlier Kudremukh Iron Ore Company) produces iron ore concentrates and iron oxide pellets for domestic firms and also exports the same to companies in Iran, Taiwan and others. The Mangalore-based company will import iron ore and make pellets, which will then be exported, primarily to Iran. "We are procuring <g data-gr-id="18">high grade</g> iron ore from Anglo American from Brazil. The quantity is around a million tonnes and the first shipment is expected in September," KIOCL Chairman and Managing Director Malay Chatterjee said. Last year, the government permitted KIOCL to export its own manufactured iron ore pellets either by itself or through any entity authorised by them for the purpose.
"On the other hand, we are in the final stages of talks with Gol Gohar Mining company of Iran for a tie up to import about 1 MT of iron ore. It is expected to be formalised in a month, <g data-gr-id="16">post</g> which the first shipment can take another week to reach Mangalore port," he added.