Corporate Profile

The Orissa Minerals Development Company Limited (OMDC) was incorporated on 16th August 1918. The OMDC was one of the specified companies of Bird & Co. Ltd. Bird & Co. Ltd. came under control of Government of India after enactment of Bird & Co. Ltd. (Acquisition and Transfer of Undertaking and Other Properties ) Act, 1980 (67 of 1980). The Act 67 of 1980 enabled Central Government to exercise control over the affairs of specified companies including OMDC to ensure that the affairs of the specified companies including OMDC is not mismanaged. It became a Schedule-B CPSE w.e.f. 19th March 2010 and a subsidiary of EIL, which also became PSU on 19th March 2010. Eastern Investment Limited (EIL) became a subsidiary of RINL (Rashtriya Ispat Nigam Limited) on 5th January 2011. The authorized as well as paid up share capital of the company is Rs. 60 Lakhs having 60,00,000 shares of Rs. 1 each. The company is listed at Calcutta Stock Exchange (CSE), National Stock Exchange (NSE) and got trading permission to trade under permitted category in the Bombay Stock Exchange (BSE). OMDC was operating six Iron Ore and Manganese Ore mining leases at Barbil in the district of Keonjhar, Odisha. Out of which, three leases, namely Dalki Manganese Mines, Kolha-Roida Iron & Manganese mines, Thakurani Iron & Manganese Mines are in the name of Bharat Process and Mechanical Engineers’ Ltd. (BPMEL), which were being operated by OMDC under Power of Attorney. The other three mines Belkundi Iron & Manganese Mines, Bagiaburu Iron Mines and Bhadrasahi Iron & Manganese Mines are in the name of OMDC. The mining lease validity of all these three OMDC Mines have been extended by Govt of Odisha, till 15th Aug 2026, 10th Oct 2041 and 30th Sep 2030 respectively. Environmental clearance for Baiaburu Iron Ore Mine has been granted by MoEF & CC, Government of India for increase in Iron ore production to 0.36 MTPA (ROM) in the mine lease area of 21.52 Ha, located at Village Uliburu, Tehsil Barbil, District Keonjhar, Odisha. Public hearing for Belkundi Iron & Manganaese Ore Mine has been scheduled to be held on 25.10.2023. Necessary actions are being taken by the company to start mining operations. All the six mines together have an estimated reserve of about 201 million tonnes of Iron Ore and 27 million tonnes of Manganese Ore.