Date | April 11, 2016:
Mines and Geology Minister Vinay Kulkarni has said that the rising prices of iron ore has increased cost of production at Visvesvaraya Iron and Steel Limited (VISL) and that he would make sincere efforts to bring down the production costs by providing the ore from state-run mines at cheaper rates.
He said this, speaking to reporters after visiting the VISL here on Sunday. “VISL is currently procuring iron ore at Rs 5,700 per tonne from Chhattisgarh and Jharkhand. I will try to provide ore at Rs 2,500 per tonne from the state-owned mines. This will bring down the cost of production at VISL, a unit of Steel Authority of India Ltd, the minister said.
The production in the VISL was stalled due to lack of iron ore. Because of which the factory is sufferring losses, he said adding that he would get a mine sanctioned to the VISL.
“A mine near Ramandurga has been identified. I will make sincere efforts to get a captive mine sanctioned to the VISL, Kulkarni said.
(Source: http://www.deccanherald.com/)