Shri T. Saminathan, Chairman & Managing Director of KIOCL Limited, shares his views with the Indian Economy & Market about the current scenario and future plans. He has cut his professional teeth at KIOCL and has more than three decades of experience in the field of iron ore mining, Beneficiation, Pelletization, and Pig iron making. Besides bringing tolling concept which has resulted in increased capacity utilization of Pellet Plant, he has also put in system improvement in supply chain and logistics, framed and implemented Risk Management Policy across the organization, instrumental for e-procurement through service provider MSTC and GeM Portal procurement.
The company has a rich legacy. Please let us know the journey so far?
The Company was set up to mine low-grade magnetite iron ore at Kudremukh. The mine was developed to produce 22.5 million tons of ROM per year and beneficiation plant facilities to produce 7.5 million tons of Iron ore concentrate per year. This was considered to rank among the largest mines of Iron ores across the world. The entire operation was automated using a real-time online process computer, controlling equipment from crushing, conveying, beneficiation, and pumping of iron ore slurry to Mangalore. The transportation of iron ore slurry from Kudremukh to Mangalore through an eco-friendly pipeline of over 67 KM laid underground instead of conventional rail/ road transportation.
The Pig Iron Complex, which was commissioned in early 2001, has an annual production capacity of around 2.16 Lakhs tones. After the closure of operations from 2006 as per the Supreme Court ordered the company is producing Iron Ore Pellets by procuring iron ore from other sources of supply, mainly from NMDC.
Denne historien er fra October 2021-utgaven av Indian Economy & Market.
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Denne historien er fra October 2021-utgaven av Indian Economy & Market.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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NEW INVESTMENT PRODUCT CATEGORY IS SEBI'S LATEST MOVE COMMENDABLE?
The Securities and Exchange Board of India (SEBI) has introduced a consultation paper proposing a new investment product category aimed at addressing a specific market need. This proposed asset class would offer investment options that sit between mutual funds (MFS) and PMS, filling a gap and providing greater flexibility in portfolio management. The new investment vehicle is designed for investors who are prepared to take on riskier market positions but find PMS schemes or AIFs out of reach. SEBI after reviewing the feedback and finalizing the regulations through stakeholder discussions, may issue the final regulations.
DECODING THE CHINA MYTH
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With a rising number of millennials, Gen Z investors, and tech-savvy traditional investors, Robo advisors are making a significant impact on the FinTech and WealthTech sectors. Factors like growing per capita income, favourable demographics, and increasing smartphone and internet Usage further enhance India’s potential as a robust market. Al’s role in stock market analysis is unquestionably growing. It enhances rather than replaces human judgment, providing powerful tools for informed investment decisions.
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Face to Face
\"We believe ourselves to be service providers and not any goods manufacturer\"
THE REALITY OF CORPORATE ESG INITIATIVES
Today, environmental, social, and governance (ESG) considerations dominate business discussions and have become an integral part of the strategies of many organisations in different industries. While some companies are grappling with these new standards and commitments, others, already aligned with the Sustainable Development Goals (SDGs), are well prepared to meet the evolving regulations and standards related to corporate social responsibility (CSR) and ESG.
Standard Capital Markets Ltd. Incorporates Subsidiary for Insurance Broking
Standard Capital Markets Ltd., a leading player in the financial services sector, has announced that it has incorporated a subsidiary under the name of “Standard Insurance Broking Ltd.” to act as a Direct broker under the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018.NOC of Insurance Regulatory and Development Authority of India already taken and now company will also apply for taking Insurance Broking License of Insurance Regulatory and Development Authority of India (IRDAI).
THE IMMINENT MIDDLE EAST WAR
Recent intelligence from a variety of sources points to an Israeli war against Hezbollah, which is an Iranian proxy. Hezbollah is systematically attacking Israeli bases, radars, intelligence-collections facilities and other defense system components. Now the attacks are spreading to include Israeli settlements in the West Bank and Galilee. You’re just not hearing about it in the mainstream media. These attacks have three effects: They break down Israeli military and intelligence systems, terrorize the civilian population and handicap Israel’s ability to conduct air attacks on Syria or Lebanon. James Rickards points out why all these are imminent.
