THREE THINGS UNDERPIN THE SUCCESS OF OUR KIND OF BUSINESS. FIRST, BUILD ENOUGH CAPACITY... SECOND, SWEAT ASSETS TO THE MAXIMUM, AND OPTIMISE COST STRUCTURE THROUGH FOCUS ON EFFICIENCY. THIRD, KEEP DEBTS UNDER CONTROL

At one of your two operating mines in Odisha, you began underground mining earlier this year alongside open-cast operations. When will you start underground mining at the other mine?

IMFA is the first among nine groups present in Sukinda valley, which hosts around 97 per cent of the country’s chromite resource, to have initiated environment friendly and highly productive underground mining at its Mahagiri mine. As we were preparing for underground mining, we encountered many naysayers who believed that the valley having soft rock is not ideal for underground mining. Successful Mahagiri operation has proved them wrong. At our other mine called Sukinda, we are making preparation to do underground mining. In fact, in our reaching ore production of 1.2 mt by 2025-26, contribution of underground operation will be significant.

What’sthepriceoutlookforferrochrome?

Prices are now around $1 a pound and settling into a sustainable zone, with decent margins for producers visible over medium term. China’s emergence as the leading producer of ferrochrome based on ore imports mainly from South Africa, and global production and demand rises of stainless steel leave their impact on ferrochrome prices.

Whatdoyouthinkofthegovernmentflip-flop onexportdutyonchromite, firstwithdrawing itandthensoonthereafterreintroducingit?

Thisresource, notabundantlyavailableonper capita-basisinIndia, needsconservationfor local-valueaddition. Soalevydiscouraging exportofchromiteshouldalwaysbethere.