The Business Bytes
TBB BUREAU
BHUBANESWAR, JANUARY 8, 2021
Mineral Exploration Corporation Limited (MECL) has entered into an agreement with Odisha Mineral Exploration Corporation Limited (OMECL) for augmenting the exploration of the rich mineral resources in Odisha.
A memorandum of understanding (MoU) to this effect was signed by Ranjit Rath, CMD, MECL and Vineel Krishna, Managing Director OMECL, at Bhubaneswar on Friday in presence of Union Minister for Mines, Pralhad Joshi, Odisha Mines Minister Prafulla Mallick, Odisha Chief Secretary Suresh Chandra Mohapatra and State Mines Secretary Surendra Kumar.
Ranjit Rath, CMD, MECL and Vineel Krishna, Managing Director OMECL, signing the MoU at Bhubaneswar on Friday
By joining hand with OMECL the exploration activities of Odisha will be augmented and additional mineral resources in the state will be established, which will lead to identification of more blocks for auctioning in the Greenfield as well as Brownfield area, said MECL CMD Rath.
With an impeccable credential of over 48 years, as a notified exploration agency, MECL is mandated to undertake detailed exploration of mineral acreages and currently operates pan India with a portfolio of all the major and precious minerals offering integrated mineral exploration services including preparation of Geological Reports and consultancies to Central Government, State Governments and CPSEs etc.
The Odisha Government has established OMECL to strengthen institutional set up for mineral exploration in the State, and to upscale the mineral exploration activities so that the potential of mining sector is achieved through scientific exploration of mineral resources.
Odisha is endowed with large resources of bauxite, chinaclay, chromite, coal, dolomite, fireclay, graphite, gemstones, iron ore, limestone, manganese ore, mineral sand, nickel ore, pyrophylite and quartz. The State is the leading producer of chromite, graphite, bauxite, manganese ore, iron ore, sillimanite, quartzite, pyroxenite and dolomite. It accounts for the country’s 95 per cent chromite, 92 per cent nickel ore, 69 per cent cobalt ore, 55 per cent bauxite, 51 per cent titaniferous magnetite, 40 per cent limestone, 36 per cent pyrophyllite, 33 per cent iron ore (hematite), 26 per cent sillimanite, 25 per cent each fireclay & garnet, 24 per cent each coal & zircon and 20 per cent vanadium ore resources.
