Odisha Mining Corporation pays Rs 1,420 crore dividend to govt

Bhubaneswar: Odisha Mining Corporation (OMC) today paid a dividend of Rs 1,420 crore to the state government for 2022-23 financial year.

Steel, Mines & Works Minister Prafulla Kumar Mallik handed over a cheque of Rs 1,420 crore to Chief Minister Naveen Patnaik here.

OMC, one of the largest iron ore producers in the country, recorded a turnover of Rs 14,450 crore in 2022-23 fiscal. Having 18 operational mines, the state-owned corporation registered total ore production of 33.76 million tonnes (MT) in the Financial Year 2022-23 with 29.68 MT iron ore, 3 MT bauxite and 1.08 MT chrome ore – registering an impressive 14.9 per cent growth over the previous financial year.

OMC has supported the state government in many of its flagship welfare programmes. It has also been contributing substantially towards the socio-economic development of the people especially residing in its mining periphery through various CSR initiatives.

Additional Chief Secretary of Steel & Mines Department Deoranjan Kumar Singh, 5T Secretary VK Pandian, OMC Managing Director Balwant Singh, OMC Director (Finance) Satyajit Mohanty, Director (Operations) Sabyasachi Mohanty, Director (HR) Alok Kuamr Pal and Director (P&P) Kshirod Chandra Brahma among others were present on the occasion.