India’s Sandur Manganese and Iron Ore Limited (SMIOL) will expand mining capacities, to be followed by the ramping up of downstream processing capacities, company sources said on Monday, April 29.
According to sources, in the first phase manganese ore mining capacity will be increased from 0.28 million mt per year to 0.58 million mt per year and iron ore capacity from 1.60 million mt per year to 4.50 million mt per year.
Once the mining capacities for minerals are increased, SMIOL will look at increasing downstream processing capacities, a detailed project report on which is currently being prepared, the sources said.
Towards this, it has already commissioned a hybrid renewable power plant project of 42.9 MW through the special purpose vehicle (SPV) with Renew Power Limited and the plant will cater to the increased energy requirements for its ferroalloy plants which are being expanded and scheduled for completion by the end of the current fiscal year.
As part of its focus on downstream value addition, the company recently announced the acquisition of specialty steel producer Arjas Steel Limited.