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“Work agreement had been entered into between KIOCL Ltd and Dept of Mines & Geology, Govt of Karnataka…for carrying out mineral exploration by KIOCL Ltd for manganese and iron ores in nine identified blocks in Bellary and Chitradurga districts of Karnataka at a total estimated cost of Rs 81.53 crore plus GST,” the state-owned firm said in a BSE filing.
KIOCL Limited — formerly known as Kudremukh Iron Ore Co Ltd — is a company under the steel ministry. The company has experience in operating iron ore mining, beneficiation and iron-oxide pelletisation in the country.
It has 3.5 million tonne per annum (MTPA) iron-oxide pellet plant to manufacture pig iron at Mangaluru, Karnataka.