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The last date for submitting the Expression of Interest (EOI) floated by the A P Mineral Development Corporation (APMDC) for exploiting the heavy beach mineral sands of Srikakulam district has been extended up to July 10.
The decision was taken at the first pre-bid conference here on Wednesday, which was attended by a dozen top Indian and global mining and minerals firms.
The Indian Rare Earths, IFFCO, Essel Mining (AV Birla Group), VV Minerals, Transworld Garnet, Trimex, Dharti Dredging and Infrastructure Ltd., Satyavathi Minerals and Metals, Savior Mines & Minerals Pvt. Ltd., Subramanyam Meka Group and PSK Infrastructure & Projects Ltd. were among the participants.
The State-owned Corporation wants the setting up of an integrated project for development of heavy mineral beach sands in a joint venture. It covers exploration and mining, mineral separation, as well as value-added plants.
In the joint venture, the Corporation will contribute to the equity in the form of mining leases, both land-owned and acquired, and sweat equity for facilitating various statutory clearances, in addition to equity infusion. The previous last date was June 19.
According to existing rules, the Corporation has to hold a 75 per cent equity, while in the mineral separation and value addition, the private partner can hold a majority stake. A separate special purpose vehicle and equity structure can also be worked out, said V Girija Shanker, Vice-Chairman and Managing Director.
AP has rich deposits of Heavy Mineral Beach Sands, which are a source of valuable end-use products such as titanium dioxide used in paints & pigment and paper industries, titanium metal used in aerospace and defence sectors as well as zircon & garnet used in refractories and ceramics.
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