According to reports, KIOCL intends to attain annual iron ore capacity of 2 million tonnes from the mine.
KIOCL is a flagship company under the Ministry of Steel, GOI, with Mini Ratna status. It is an export-oriented unit with expertise in iron ore mining, filtration technology and production of high-quality pellets. The company has also ventured into operating and maintenance (O&M) services for steel projects. As of 31 March 2024, the Government of India held 99.03% stake in the company.
The company reported a standalone net loss of Rs 42.91 crore in Q4 FY24 as against a net profit of Rs 82.21 crore in Q4 FY23. Income from operations jumped 49.34% to Rs 372.18 crore in Q4 FY24.