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Mineral Exploration Corporation Limited (MECL), Nagpur, Maharashtra, a public sector unit of the Ministry of Mines, continued its exploration activity during the year 2004 in various parts of the country. Besides minerals exploration, it took up coal sampling analysis as a third party agency, supply of ballast stone to South Eastern Railways and slim hole drilling under its diversification programmes.
The Corporation carried out drilling of 1,75,192 meters and 5,883 meters of developmental mining during the year. It also carried out geological mapping of 130 sq. kms., 1,09,290 meters of geophysical logging, 466 sq. kms. of geophysical survey and prepared 48 new reports.
The financial performance of the company has shown remarkable improvement during 2004. The gross margin was positive throughout the year. It earned a total gross margin of Rs.18.74 crore as against Rs.5.73 crore during the previous year.
MECL, during the year, received 30 work orders, valued at Rs.4,935.36 lakhs which includes drilling for geo-technical investigation on behalf of IRCON in the hilly terrain of J & K, exploratory / developmental drilling on behalf of HZL / Sterlite, Mine Development work on behalf of UCIL, exploration of Coal Bed Methane on behalf of CMPDIL, coal exploration work on behalf of IISCO, for gold exploration from HGML and iron ore investigation from Sindhudurg Mining Corporation.
The Company has signed MOU with KOPEX S.A., Poland for association / co-operation in mining ventures and with Korea Resources Corporation (KORES), South Korea for mutual co-operation in the field of mineral exploration.
DS/SCH
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