Adhunik Group bags mining licence in Africa, Latin America

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Kolkata, Aug 4 (UNI) Adhunik Group of Industries (AGI) today said it has received licences for mining of iron ore, coal and copper in five countries of Africa and Latin America.

''The company has recently received mining rights in Ghana, Congo, Tanzania and Mozambique along with Brazil,'' company Managing Director Manoj Aggarwal told reporters here yesterday.

The minerals obtained from these mines will be sold commercially in India as well as other countries across globe, he added.

Mr Aggarwal said the Group will engage in exploration of iron ore in Brazil, while coal, copper and Mangenese will be explored in the four African nations.

Asked about the shortages of lump iron ore, he said like China, the technology to use small pieces of the iron should be developed in India and the government should help the middle-scale producers with the research and development to make this process cheaper.

Speaking on the company's future investment plans, Mr Aggarwal said he expects the Group's turnover to increase to Rs 2,300 crore from Rs 1,800 crore last fiscal.

The Group is also investing heavily in the sponge iron, coal and power sectors in the states of Jharkhand, Orissa and Chhattisgarh.

The Group will set up a steel plant with an annual capacity of 15 lakh tonnes with an investment of Rs 4,500 crore, besides infusing Rs 4,000 crore set up 1,000 MW power plant in Kandra region of Jharkhand.

The Group will produce 30 MW power from the waste gases being produced at its existing sponge iron plant in Kandra, which will help in saving 11,000 tonnes of coal monthly.

The capacity of this facility will be doubled to four lakh tonnes a year by May 2009, he added.

The Group also plans to set up an industrial park, spread over 2,500 acre, near its beneficiation and pellet production plant (with an annual production capacity of 1.60 crore tonnes) in Noamundi in Jharkhand.

Mr Aggarwal said the government and agencies should work to eradicate the problems of procuring land and water by setting up land banks and water withdrawal committees.

He added that Jharkhand State Mineral Development Board should bring changes in its working to become competent with other organisations.

UNI XC MP HS1717

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