KOLKATA | Jul 07, 2015: State owned KIOCL Limited (formerly Kudremukh Iron Ore Company Limited) has entered into a MoU with Mineral Exploration Corporation Limited (MECL) on Tuesday (July 7, 2015). The MoU aims to utilise the expertise of both the companies in mining and exploration of various minerals across the country.
The MoU was signed by Malay Chatterjee, CMD KIOCL and Gopal Dhawan, CMD of MECL. The union steel and mines minister Narendra Singh Tomar was also present on the occasion. While only 1% of the mineral bearing area of the country has been explored, about 8 lakh square km of mineralised area requires detailed exploration to identify the ore reserves and their intrinsic values.
KIOCL and MECL will jointly deploy their expertise in mining and mineral exploration to address the urgent need for extensive exploration works in the near future, a statement issued by KIOCL said.
(Source: http://economictimes.indiatimes.com/)