Odisha Mining Corp pays Rs 1,420 crore dividend to state govt

Iron ore producer Odisha Mining Corporation paid a dividend of Rs 1,420 crore to the state government for the 2022-23 fiscal, an official said on Thursday.

Steel and Mines Minister Prafulla Kumar Mallik handed over a cheque of Rs 1,420 crore to Chief Minister Naveen Patnaik here on Wednesday, he said.

Odisha Mining Corporation, one of the largest iron ore producers in the country, recorded a turnover of Rs 14,450 crore in the 2022-23 financial year.

It has 18 operational mines and produced 29.68 mt of iron ore, 3 mt of bauxite and 1.08 mt of chrome ore, registering a 14.9 per cent growth in ore production over the previous financial year, the official added.