Financial Daily from THE HINDU group of publications
Tuesday, Nov 02, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 02, 2004 |
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Corporate
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Technology Shiva Cement develops tech to process iron ore Kohinoor Mandal
Kolkata, Nov. 1 THE Rourkela-based Shiva Cement Ltd has developed a process know-how in the field of iron ore benefication. According to Mr R.P. Gupta, Managing Director of Shiva Cement, commercial trials of the process have been successfully completed. The company is likely to ink a deal with a sponge iron producer within the new few days. "Through this process, the rejects of iron ore mines, which are lying in huge quantities all over the State, can be beneficiated to recover high-grade ore for steel plants. We are contemplating filing a process patent for this benefication system," Mr Gupta told Business Line. At present, there is a demand-supply mismatch of iron ore in the global market with demand outstripping the supply lines. Shiva Cement feels that there are a host of immediate buyers for their technology. "We are negotiating with the existing sponge iron manufacturers in the State for commercially selling this technology on a non-exclusive basis. These units can tremendously benefit from our technology," he said. The company is, however, not targeting the major steel producers such as SAIL or Tisco. According to Mr Gupta, they have the funds to invest in large-scale capital-intensive mining equipment and processes. "We are targeting only the small players. The cost of setting up an installed capacity of 4-5 lakh tonnes per annum with our iron benefication process would cost only Rs 5 crore," he said. Shiva Cement's existing cement producing capacity is 1.77 lakh tonnes per annum. It owns captive limestone mines with a reserve of 23 million tonnes.
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