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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Motilal Oswal Securities Ltd.
Provider: Motilal Oswal Securities Ltd.

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Steel Authority of India Ltd Plans To Raise Iron Ore Output Capacity To 43 Million Tonne By FY 2016 - Business Standard

Wednesday, 20 Nov 2013 06:05am EST 

Business Standard reported that Steel Authority of India Ltd plans to raise the iron ore production capacity to 43 million tonne per annum by 2015-16 from the existing 28 million tonne per annum (mtpa). The Company also believes that with the ongoing and proposed expansion at the mines, it would be able to achieve 58 mtpa iron ore production by 2020. The Company plans to raise production capacity of its Kiriburu mines to 5.5 mtpa from 4.25 mtpa now. Plans are also there to jack up production capacity at Meghataburu and Bolani mines to 6.5 mtpa and 10 mtpa, from 4.3 mtpa and 4.1 mtpa respectively. The Company also plans to raise its Gua mine's production capacity to 10 mtpa from 2.4 mtpa now. It also proposes to raise capacity of its Barsua, Kalta and Taldih mines to 6.5 mtpa from 3.3 mtpa. The major boost in iron ore production might come from the Rowghat mine, where The Company plans to produce 12 mtpa iron ore. SAIL has already received all statutory clearances for the mine to develop. However, much work could not be done at the ground level as a result of Maoists' threats. The Company also plans to raise the iron ore production capacity at its Chiria mine to 7.45 mtpa from 1.5 mtpa now. The Company does get all its iron ore needs from captive sources. It generally takes 1.6 tonne iron ore to produce one tonne of steel. The Company is in the process of investing Rs 70,000 crore on its mines and steel plants. 

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