MECL ON A RECOVERY TRACK

Article Abstract:

Mineral Exploration Corporation Ltd (MECL) has reduced its losses to Rs2.62 crore in 1997-98 from Rs12.32 crore in 1995-96. It had posted a loss of Rs10.29 crore in 1992-93. In November 1995, the government of India implemented a revival package for the corporation. MECL's contractual and promotional work had reduced with the arrival of multinational companies in India. Its wage bill to the turnover ratio was quite high and its operational efficiency had declined. MECL had taken steps to improve its efficiency. It has taken up copper exploration in Surhari, Kalapahar and Singhana in Rajasthan, gold exploration in Chinmulgund in Karnataka and diamonds at Hatupur in Madhya Pradesh. (rk)

Comment:

Reduces losses to Rs2.62 crore in 1997-98 from Rs12.32 crore in 1995-96

Sales, profits & dividends, Article

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MECL PLANS JVs FOR LONG-TERM EXPLORATION

Article Abstract:

The Mineral Exploration Corporation Limited (MECL) proposes to sign memoranda of understanding (MoUs) with many Indian and multinational companies for long-term exploration of coal and lignite. It also plans to secure huge global exploration contracts by accessing their equipment and technology. It also plans to restrict the drilling depth to 600 metres for coal and about 300 metres for lignite. It also proposes to diversify into commercial mining and tie up with the Maharashtra State Mining Corporation. (ag)

Alliances, partnerships, Coal, Coal Mining

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VS DEMPO & CO LTD

Article Abstract:

VS Dempo & Co Ltd, flagship of the Dempo group of Goa, has 19 mining concessions all over the state, covering an area of 1800 hectares. It has built excellent relations with Japanese buyers like Nippon Steel, Mitsui and Nisshin Steel of Japan to whom its exports processed ore. It has also diversified into other markets like China, Taiwan, Netherlands, Portugal, Belgium, Romania and Turkey. The company is a Government of India recognised trading house. (khr)

Japan, Diversified Companies, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Strategic alliances, Mitsui and Company Ltd. (Tokyo, Japan), Nippon Steel Corp., VS Dempo and Co. Ltd., Nisshin Steel Company Ltd.

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