Kudremukh Iron Ore Company Ltd (KIOCL), which has been in existence for 50 years, is preparing to shape its next phase of growth with a focus on operational expansion, raw material security and value-added capabilities.
As the company enters FY27, its strategic priorities include accelerating the operationalisation of the Devadari Iron Ore Mine (DIOM), commissioning the Coke Oven Plant, expanding critical mineral exploration assets, optimising supply chains and evaluating joint ventures for forward integration.
Focus on coke oven plant
Construction of the 1.80 lakh tonnes per annum captive Coke Oven Plant at Mangaluru, involving an outlay of ₹218 crore, had achieved 76% physical progress as of March 2026. The company is also examining options for the revival and utilisation of its Blast Furnace Unit (BFU) at Mangaluru.
KIOCL said any revival would be undertaken only if it is technically feasible, commercially sustainable and capable of generating long-term value, Chairman and Managing Director Ganti Venkat Kiran said in a letter to shareholders.
Devadari mine gains momentum
Significant progress was made during FY26 in advancing the DIOM in Ballari. With the necessary clearances and possession in place, KIOCL is prepared to move rapidly from the statutory phase to project execution.
The accelerated implementation programme will cover mine development, crushing and screening facilities and an efficient railway-based evacuation system. The project is expected to strengthen raw material security, reduce dependence on external ore procurement and lower exposure to market volatility.
Captive ore key to growth
KIOCL said the mine is not merely a mining project but a strategic investment that can strengthen its integrated raw material position, improve operational efficiency and support sustained capacity utilisation.
Secure, reliable and cost-competitive access to iron ore remains fundamental to the company’s long-term sustainability and competitiveness as a pellet producer. Developing captive resources will also help strengthen its cost structure and supply-chain security.
Turnaround provides stronger platform
The financial turnaround achieved during FY26 has provided KIOCL with a stronger platform to pursue strategic priorities, undertake prudent investments and build a resilient foundation for sustainable and profitable growth.
During the year, the company demonstrated resilience and execution discipline by realigning its business model, optimising commercial arrangements, improving plant efficiencies and implementing internal cost-control measures.
From mining to multi-vertical operations
KIOCL was established as a 100% Export Oriented Unit to mine and beneficiate magnetite ore at Kudremukh in Karnataka. It has since evolved into a multi-vertical enterprise covering iron oxide pellet manufacturing, mineral exploration and project and operations consultancy.
Its current business rests on three streams: manufacture and sale of iron oxide pellets in domestic and export markets, conversion and tolling services for other producers, and geoscientific services as a Notified Exploration Agency.
The company is also strengthening its core capabilities by securing captive raw material through DIOM and expanding value-added operations through the backward and forward integration of its Blast Furnace Unit.