New Delhi, April 6 (PTI): State-owned SAIL has decided to outsource the development of its Chiria mine in Jharkhand, considered to be among the largest iron ore deposits in the world, and will be inviting bids during the current quarter for appointing a mine developer-cum-operator (MDO).
The detailed project report prepared by the external consultant, Hatch Associates of Australia, has been approved by the company.
The Chiria mines, having about 1.84 billion tonnes of reserves, will be developed in two phases — 7 million tonnes (mt) in phase-I and 8mt in phase-II. Its first phase is likely to be operational in 3-4 years after the finalisation of the MDO.
“They (the consultant) have given the report, which has been seen and accepted. We are soon coming out with the notification for inviting bids for appointing the MDO,” SAIL chairman C. S. Verma said.
He did not give a timeline for inviting the bids for appointing the MDO.