The Hindu : Tamil Nadu News : Joint venture with Jindals to exploit iron ore

Online edition of India's National Newspaper
Saturday, May 21, 2005

Tamil Nadu

Tamil Nadu

Joint venture with Jindals to exploit iron ore

Special Correspondent

Time for scientific exploration, optimal exploitation and judicious conservation

CHENNAI: The State Government will undertake a joint venture with Jindals for `B' grade iron ore exploitation in two districts, according to the Industries Secretary, Rameshram Mishra.

Speaking at the inaugural session of a national seminar on `Mineral Exploration, Mining and Mineral Beneficiation: A Road Map to Vision 2020' here on Friday, Mr. Mishra stressed the need for adopting a cautious approach while resorting to value-addition efforts.

He referred to the ongoing debate at the national level on value addition in the mineral sector, more particularly in the context of Posco, a South Korean steel company, making proposal to the Orissa Government for setting up a steel plant with a capacity of 12 million tonnes per annum with an investment of $12 billion. The debate also stressed the need for adopting a cautious approach while inviting Foreign Direct Investment, he said.

Against this backdrop, he referred to the State Government's move for a joint venture with the Jindals.

"We have just got into an equity partnership with Jindals for `B' grade iron ore exploitation and mining in Salem and Tiruvannamalai districts."

Experts panel

The Tamil Nadu Pollution Control Board had set up an experts panel for mining aluminium in eco-sensitive areas in and around Salem district, Mr. Mishra pointed out.

The State Government had also finalised a hazardous waste disposal site and the facility would come up in three months. The Government had plans to create three more similar sites, Mr. Mishra said.

"As the mineral deposits are fast depleting, it is high time we undertake scientific exploration, optimal exploitation, judicious conservation and revenue maximisation in a citizen-friendly policy framework," he said.

Modernising survey systems

The senior Deputy Director-General, Geological Survey of India (GSI), P.M. Tejale, highlighted the steps taken to modernise its land, aerial and marine survey systems.

As part of adopting the latest technologies, the premier survey and exploration agency would introduce a heliborne geophysical survey system suited for exploration in the hilly terrain.

As the Planning Commission had already given its approval, it would be inducted shortly.

V. Palanisamy, Director, GSI, focused on the systematic approach of the agency in exploration activities. Meda Venkataiah and V.S. Rao, president and former president respectively of the Mining Engineers' Association of India (MEAI), Tamil Nadu Chapter, called for steps to remove the bottlenecks such as "harsh rules and regulations" which hampered the development of mineral and mining industry.

L. Ajay Kumar, convener of the seminar, said 75 papers would be presented by experts on topics such as mineral exploration, mining, mineral beneficiation, environment and policies, strategies and legality.

The two-day seminar was jointly held by the MEAI (Tamil Nadu Chapter), Indian Bureau of Mines (Chennai Region), GSI and Department of Mining Engineering, Anna University.

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