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KMC earns mining revenue of Rs 1,699 cr

Koida Mining Circle (KMC) in Sundargarh district scripted history by earning a revenue to the tune of Rs 1,699 crore.

Published: 25th April 2019 04:45 AM  |   Last Updated: 25th April 2019 08:49 AM   |  A+A-

By Express News Service

ROURKELA: Koida Mining Circle (KMC) in Sundargarh district scripted history by earning a revenue to the tune of Rs 1,699 crore.The final figure for 2018-19 may slightly increase with revenue from minor minerals yet to be calculated. This stupendous success comes in the backdrop of the KMC suffering revenue losses for four consecutive years.

Koida-based Deputy Director of Mines (DDM) Salil Behera said against a target of Rs 1,020 crore, the KMC achieved a growth of 166.56 per cent with collection to the tune of around Rs 1,699 crore.He described it as a phenomenal revenue growth, adding that never in the history such whopping growth was recorded. The DDM said the revenue figure would slightly rise and cross Rs 1,700 crore mark on receipt of revenues on minor minerals from tehsil offices of the district. He said in 2018-19, the KMC produced 33.30 million tonnes of minerals with iron ores accounting for nearly 95 per cent of  the minerals. The revenue target for 2019-20 would definitely be much higher considering the current performance.

Notably, from 2014-15 to 2017-18, the KMC had been consistently suffering losses for various reasons and the negative trend was finally broken with KMC bouncing back with a bang.The growth has been attributed to rise in mineral prices, increased consumption of iron ore by industries and opening of a couple of closed mines.

Incidentally, as of now, only 30 of 77 mines in KMC are in operation. Mining department sources said in a month or two, Geetarani Mohanty mines at Raikela is likely to reopen after it was closed earlier following a direction from the Supreme Court. They said there is no word yet on opening of three other mines auctioned earlier.



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