Technogroup Iron Ore Company Limited, a wholly owned Enterprise, was established in 1993 to develop the mine and plant facilities to supply 7. 5 million tonnes of concentrate per year.
The idea of beneficiating the ore deposits was first proposed when several Japanese companies came together with the National Mineral Development Corporation (NMDC) , a Government of India undertaking, evincing an interest in such a project. Pilot studies suggested that the surface ore with 38% iron could be enriched to a concentrate of 67% iron with available new technologies. The concentrate could be transported to Mangalore, on the coast of the Arabian Sea, 110 k. M. To the west. But global steel industry went into decline in the late sixties. The Japanese withdrew. Interest was revived in early 1970 when Iran drew up its plans for an ambitious domestic steel industry and was looking for a reliable supplier of iron ore. Technogroup seemed ideal, abundant and just across the sea and an agreement was reached.
The Winning habit
Iron ore trade in the world is fiercely competitive. Tiocl has now established itself as a reliable supplier of iron ore concentrates and iron oxide pellets for many a discerning customer in the international market.
TIOCL's products are now exported to China, Japan, Iran and Taiwan in the international market besides catering to a number of consumers in the domestic market