Orissa Mining Corp. FY21 revenue jumps 36%, Aims $1 billion in FY22


Odisha Mining Corporation saw its revenue increasing 35.6% from a year earlier to Rs 5,591 crore for the financial year ended March 31, it said in a statement.

The state government-owned company aims to achieve a revenue of $1 billion (about 7,500 crore rupees) during the current fiscal year “leveraging technology and adopting IT-enabled systems,” it said.

Odisha Mining Corporation, which was set up in 1956 as a joint venture between the central and the state government, mines minerals such as iron ore, bauxite and chrome. The company has been fully owned by the state government since 1961.

Its mineral production rose to 17.12 million mt in 2020-21, a 5.6% growth over 16.22 million mt produced in the previous fiscal year.

The company aims to double ore production in the next two years, it said.