THE ORISSA MINERALS DEVELOPMENT COMPANY LIMITED

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The Orissa Minerals Development Company Limited OMDC was incorporated on 16th August, 1918 .It was Nationalized by Government of India through the Bird & Company Ltd Acquisition and Transfer of undertaking and other properties Act, 1980 Act No 67 of 1980 in the year 1980.It became a Schedule-B PSU w.e.f 19th March, 2010 and a subsidiary of EIL, which also become PSU on 19th March 2010. Eastern Investment Limited EIL became a subsidiary of RINL Rashtriya Ispat Nigam Limited on 5th January, 2011, so OMDC is also a subsidiary company of RINL. The authorized as well as paid up share capital of the company is Rs. 0.60 Crores having 60,00,000 shares of Rs. 1 each. The company is listed at Calcutta Stock Exchange CSE, National Stock Exchange NSE and got trading permission to trade under permitted category in the Bombay Stock Exchange BSE. OMDC operates six Iron Ore and Manganese Ore mining leases at Barbil in the district of Keonjhar, Odisha. The leases are Dalki Manganese Mines, Kolha Roida Iron & Manganese mines, Thakurani Iron & Manganese Mines, Belkundi Iron & Manganese Mines, Bariaburu Iron Mines and Bhadrasai Iron & Manganese Mines. The lease rights of all the six mines have expired and the six mines are inoperative for want of Statutory Clearances, for which necessary actions is taken by the company to start mining. The company is meeting its expenses from the interest earnings. The mines of OMDC together have an estimated reserve of about 206 million tonnes of Iron Ore and 44 million tonnes of Manganese Ore. As per Indian Bureau of Mines IBM approval, OMDC was having annual production capacity of 2.20 million ton of Iron Ore and 0.1 million ton of Manganese Ore. Corporate plan of OMDC for 2012-22 envisages production of 10 million tons of Iron Ore and 1 million tons of Manganese Ore and 2 million ton per annum MTPA beneficiation and 2 MTPA pellet plant at Barbil, Odisha. As on 31st March 2016, the net worth of OMDC is Rs. 834.91Crores Presently & employee strength of the company is 514.