RINL picks up stake in Eastern Investmens Limited

The RINL is conducting a mineral exploration survey by the Mineral Exploration Corporation Limited in Bhilwara region of Rajasthan where it has been allotted low-grade iron ore.

After picking up majority equity in Eastern Investments Limited through a payment of Rs.360.30 crore in 2010, the RINL had pinned high hopes on getting mines in Odisha.

The EIL has strategic control over the Orissa Mining Development Corporation.

“We have legitimate right to get captive mines in Odisha. The Centre should not show step-motherly treatment to RINL and clear legal hurdles in getting iron ore through OMDC at the earliest to save production cost. At the same time, the State Government should bring pressure on Centre to clear allotment of Kukunoor mines,” Visakha Steel Employees’ Congress (recognised union of VSP) general secretary Mantri Rajasekhar said.

The RINL has a long-term agreement with the National Mineral Development Corporation for supply of iron ore from Bailadila in Chhattisgarh.

Sandip Ginodia , Director

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