KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd) is hopeful of beginning exports of iron ore pellets to Iran soon.
In an informal chat with BusinessLine on the sidelines of a seminar on ‘Value Education’, organised by the Ramakrishna Math in Mangalore on Wednesday, Malay Chatterjee, Chairman and Managing Director of KIOCL Ltd, said the export of iron ore pellets to Iran will begin soon with the de-canalisation of pellets, which is being effected by the Union Ministry of Commerce.
The proposal in this regard has been approved by the Union Ministries of Mines and Steel. It is now with the Union Ministry of Commerce. KIOCL is pursuing the matter. Once the notification comes, the company will export two shipments to Iran, he said.
(Canalisation means export only through the agencies designated by the Union Government such as MMTC for minerals. With de-canalisation, the company need not approach the agency to route its exports.)
Following a Supreme Court order, KIOCL stopped mining operations at Kudremukh with effect from January 1, 2006.