JK Minerals gets Rs 7 cr revenue, eyes Rs 22 cr

State-owned JK Minerals Limited has generated Rs 7.
JK Minerals gets Rs 7 cr revenue, eyes Rs 22 cr
Representational Pic

State-owned JK Minerals Limited has generated Rs 7.34 cr revenue by November 2015 end. The corporation had yielded Rs 11.59 crore revenue last fiscal and had set Rs 22.02 crore revenue target for the current financial year.

This was stated at the 166th meeting of Board of Directors of JK Minerals, held here today under the chairmanship of Minister for Industries and Commerce, Chander Prakash Ganga, who is also the Chairman of Board of Directors.

The Board reviewed the progress on various projects undertaken by JK Minerals in the state.

The Board was informed by the Managing Director, JKML, A S Hussain that the corporation has generated revenue to the tune of Rs 8.87 crore against sale of 13796 MTs of coal during last financial year. To make the coal mining activities more viable, the production/ sale target has been fixed at 29,000 MTs for the current financial year.

The exploitation of coal from various coal fields in and around Kalakote was started by the corporation in 1961 and till date J&K Minerals Ltd has extracted 10.60 lakh tonne of coal averaging an annual production of 15,000 tonne.

It was also given out in the meeting that the corporation has also generated revenue of Rs. 2.49 crore from sale of 30842.804 MTs of gypsum extracted from Gypsum mines of Assar, and Parlanka of Doda and Ramban districts during last fiscal, an official statement said.

Various issues pertaining to the development of the corporation were also discussed in the meeting.

Meanwhile, Ganga enjoined upon the management of the corporation to re-double efforts towards making it more viable. "It must become role model for other Public Sector Undertakings", he said.

The Minister called for extracting more minerals wealth in state adding that projects of coal and other minerals would be revitalized so that revenue realization is increased.

Ganga emphasized on proper utilization of human resource so that the overall production would be increased which in turn would help in increasing the sale of minerals.

The meeting was attended by Commissioner Secretary, Industries & Commerce, Shailendra Kumar, Special Secretary, Finance, Arun Kumar Sharma, Special Secretary, Industries & Commerce Department, Sajjad Ahmad Khan, Director General Budget, Finance Department, Ishaq Wani, Director, Geology & Mining, F. A. Khan and Managing Director, J&K Minerals Limited, A. S. Hussain.

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