Rs 35cr To Be Invested In Noamundi Iron Ore Mines

Plans Rs 35 cr Noamundi investment

Tata Steel is considering a proposal to invest around Rs 35 crore at its Noamundi iron-ore mines in Bihar in a bid to expand its capacity.

The investments are required primarily for improving the quality and quantity of the ore as well as to facilitate stretching of capacities.

Sophisticated mine planning programmes are already underway to maximise the mine life at Noamundi.

The company also plans to double the capacity of its Joda mines after the completion of the fourth phase modernisation at Jamshedpur. The average annual capacity of the Joda and Noamundi mines is around six million tonne. According to mine officials, it is hoped that the Rs 35 crore investment will be made simultaneously with the on-going modernisation programme at Jamshedpur.

 

However, finding funds immediately may be a problem because of the present trend in the Tata group to emphasise on returns rather than more investments, officials said. The company is also taking steps to reduce the work-force at the mines which currently stands at 3,600.

While there is no serious surplus at Noamundi, the dolomite mine at Gomadi and the manganese mine still have surplus workforce.