Bhubaneswar: Union Mines Minister Pralhad Joshi on Tuesday laid the foundation stone of Crusher and Conveyor System at NALCO’s Mining & Refinery (M&R) Complex in Damanjodi, Odisha.
The system will cater to feed bauxite for the 5th stream of the Alumina Refinery of the company.
The project is expected to be completed by April 2022 and would cost around Rs. 483 crores, said a statement.
“We as a country aim to reach a $5 trillion economy by 2024 and I am sure NALCO will be a success story in this growth trajectory,” Joshi said.
He said Odisha has about 51% of bauxite, 25% of coal and 34% of iron ore resources of the country apart from 96% of Chromite and 44% of Manganese resources.
Joshi said, “Our government has taken a number of steps to unlock the mining potential of mineral-rich states for the benefit of the country as well as the population residing in these areas.”
He also appreciated the State Government for supporting mining activities in the region and highlighted that it will help in boosting the economy and bringing development to the State.
Earlier on Monday, Joshi had chaired a review meeting of NALCO at Visakhapatnam and directed the senior officials of the company to ramp up production to achieve the annual targets with paying due attention to safety.
He expressed his happiness over NALCO becoming the world’s cheapest producer of Bauxite & Alumina for the 4th consecutive year.
He also praised NALCO for achieving capacity utilization in the midst of challenges arising out of operating in a remote location.
Joshi also visited Panchpatmali bauxite mine located in the
Koraput district, the largest bauxite mine in Asia, having a bauxite deposit of
approximately 310 million tonnes.