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IMFA's chrome ore raising reaches new high
Mining Output up 365% as Asian demand for ferro chrome alloys picks up
June 14, 2000
Internal Press Release

Odisha based ferro alloys major, Indian Metals and Ferro Alloys Ltd. announced today that chrome ore raising from its mines reached record levels in the month of May 2000. In May, a total of 30821 mt of chrome ore was raised, which on conversion to ferro chrome becomes an essential input for the steel industry. The increased chrome ore output is in tune with IMFA's decision to increase output of ferro chrome to match the growing demand from the Asian steel industry, which is well on the road to recovery from the deep recession of the previous years. Last year's chrome ore output by IMFA's mining units averaged a mere 8451 mt per month. But with demand for ferro chrome picking up, the company has continuously upped its mining output starting from January when it raised a total of 14653 mt of chrome ore. The entire chrome ore output from its mines is consumed by IMFA and its sister concern Indian Charge Chrome Ltd. that operates a chrome complex at Choudwar near Bhubaneswar.

Commenting on the development, Mr. Baijayant Panda, Managing Director IMFA, said, "the record chrome ore output is a measure of IMFA group's intent to maximise opportunities arising from the steel industry's gradual recovery from the doldrums of the last two years or so. The thrust this year will be on exports in addition to fully meeting the demand from domestic customers. And we are confident that this two pronged effort will result in a stronger balance sheet at year end."

 

IMFA's chrome ore mines are located at Nuasahi and Bangur in Keonjhar district and at Chingudipal and Sukinda in Jajpur district, Odisha. While most IMFA mines use the open cast method, underground mining, which is more efficient as well as eco-friendly has commenced at Nuasahi. With the recent commissioning of the Sukinda mines, the company has become self sufficient in this critical input. The company has extensive ore handling and transportation facilities and is known for its quality output. In fact the Nuasahi mines in the Keonjhar district, were the second in India to be ISO 9002 certified.



For any information relating to IMFA Group or to enquire about a Press Release issued by us please contact:

Mr Kishore Mohan Mohanty
Bhubaneswar
email: kishoremohanty@imfa.in