Rio Tinto eyes India
The Anglo-Australian mining giant is reviving plans to develop iron ore mines in Orissa in joint venture with Orissa Mining Corporation (OMC).
By TNN |
Rio Tinto has set its firm eyes on India. The Anglo-Australian mining giant is reviving plans to develop iron ore mines in Orissa in joint venture with Orissa Mining Corporation (OMC), it is also ready to sell Australian ore to India for the time being.
“We are well-placed in India and are quite optimistic about negotiations with the Orissa government. We will be able to bring this project to fruition,” Rio Tinto chief executive (iron ore) Sam Walsh was quoted by the Australian media.
Senior OMC officials said Rio expects to export 25 million tonne (MT) iron ore annually from India by the fifth year. Rio is likely to use Paradip Port of ore exports and imports.
Paradip Port Trust (PPT) has promised them to make available a deep-draught berth with 17-18m draught throughout the year to facilitate the movement of ships of over 200,000-dwt.
Rio has 51% stake in integrated mining projects at Gandhamardan and Malanjtoli in Orissa, while the state-owned OMC holds the remaining stake.
“We are well-placed in India and are quite optimistic about negotiations with the Orissa government. We will be able to bring this project to fruition,” Rio Tinto chief executive (iron ore) Sam Walsh was quoted by the Australian media.
Senior OMC officials said Rio expects to export 25 million tonne (MT) iron ore annually from India by the fifth year. Rio is likely to use Paradip Port of ore exports and imports.
Paradip Port Trust (PPT) has promised them to make available a deep-draught berth with 17-18m draught throughout the year to facilitate the movement of ships of over 200,000-dwt.
Rio has 51% stake in integrated mining projects at Gandhamardan and Malanjtoli in Orissa, while the state-owned OMC holds the remaining stake.
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