Rashtriya Ispat Nigam Ltd (RINL) & Mineral Exploration Corporation Ltd (MECL) entered into a MoU today for exploration of Iron Ore, Coal & other minerals. The MoU was signed by AV Hariharan, DGM(Projects)-Mines fromRINL and SK Sarkar,Head of Business Development from MECL.
RINL has taken quick action within a month on receipt of LOI for Iron Ore Block in Bhilwara from Government of Rajasthan. RINL has the experience of operating its captive mines for Limestone, Dolomite and Manganese and is now entering into operation of Iron Ore mines.
The MoU is primarily to utilize the expertise of MECL for detailed exploration of Iron Ore mines in Bhilwara District, Rajasthan, and for exploration of mines anticipated for allocation shortly - another block in Rajasthan and some blocks in Andhra Pradesh and Jharkhand. The MoU also envisages detailed exploration for Thermal & Coking Coal blocks that would be allotted to RINL in the near future and MECL's services would be utilized for further exploration of RINL's existing Mines for Limestone, Dolomite, Manganese, Quartzite, etc.
MECL's experience and expertise would come handy for quick development of mineral blocks that have been allotted/would be allotted to RINL for which RINL had been actively pursuing to enhance its raw material securitization.