Knowledge Base     Mining GENERAL BACKGROUND In today’s world we can hardly think of any activity which does not involve, directly or indirectly, the use of some or the other metal. Whether we visualize our household items or we think of Space Ships, the use of metal is very common, essential and important. The basic metals i.e Iron Ore which is the main raw material for steel is used to manufacture right from kitchen Knife, Nailcutter, Nuts, Bolts etc to supersonic planes, rockets, satellites, missiles etc. The country which is rich in Steel & Iron Ore is, in fact, the richest country. Mother Earth is the source of these Ores along with other Ores like Manganese, Limestone, Dolomite, Quartz, Platinum, Bauxite etc. All these ores are used to make some or other metal, which in turn, is used for virtually every item, equipment, Plant & Machinery, Ships, Planes and many other useful things. These items are greatly used for day to day use, transport, communication, military and defence and all other important purposes connected to our day to day life, development, necessities, luxuries, comforts and enable us to have capabilities to make our State a powerful, developed, prosperous and rich entity. A lot can be stated on this very important yet very simple aspect of the fact that the gift of earth i.e Ore is the basic item which a man uses to make all other objects and Equipments required by him and for his development and development of the State. Success of the firm largely depends on how effectively and efficiently it utilizes the available resources. In the modern business world it is not only important to carry out the business of the firm effectively and efficiently but the firm should also focus on innovation of new type of products. Iron Ore being the most abundant metal in the world, its usage in many forms has been found since many years. India has huge resources of Ores, especially Iron Ore. However, as India was the Colony of the U.K till 1947, a huge quantum of this Ore was extracted and exported. The higher grade material like Steel was manufactured abroad and its item were re-exported to India making it weaker economically. The developed economies of the world always specialized in importing raw material and exporting value added finished goods. Despite this Mother Earth has been very kind to our country and virtually unending resources of these Ores are still available. Our firm is fortunate to have huge resources of Ores of various metals details of which are given in the following paragraphs and, in case, we extract it ourself, it is going to take a long period. Our firm, therefore, follows three pronged strategy to reach an optimum output from the available resources. The first methodology is conducting Mining Operations ourselves and selling Iron Ore and other Ores to Industries in India. Our firm has its own Mining Equipments and also has valid Mining License and all other required inputs in the shape of Equipments and Human Resources to conduct the activity. Simultaneously, the second methodology is used which is entering into collaborations, joint ventures and Equity Participation with Giants, National & International, where they conduct the Mining Operations on profit sharing basis. This methodology ensures not only Import of specialized technology and advancement of methods of Extraction leading to higher output and better quality products but also our firm adopts the latest technology, quality standards, methods of Extraction, Utilization of Human Resources and optimizing and synchronization of all available resources for maximinig output. The Third Methodology is giving on sub-lease, without profit sharing certain small portions of land on One Time Payment basis, in the interest of timely utilization of Resources which would not have been otherwise exploited due to non availability of the first and second methodology for the time being. Since the firm owns land which are huge and where research and analyses continuously is being done for lands rich in Ore deposits for assessment of quality and quantity of Ores, very small portions are sub-leased. The research is being conducted by metallurgical Engineers, Geologists and other experts. Wherever required external independent agencies are hired for the purpose.