HIGHLIGHTS  OF  ACHIEVEMENTS  &  AWARDS DURING 2009-10

MECL  BAGS ‘ MOU EXCELLENCE AWARD'

Mineral Exploration Corporation Limited (MECL) Nagpur based Central Government Public Sector, has been coroneted with ‘MOU Excellence Award’ for the “Best Turn Around Central Public Sector Enterprise”.This award has been instituted by Ministry of Heavy Industries & Public Enterprises, Government of India. 

This award was presented by Dr. Manmohan Singh, Hon’ble Prime Minister of India to Dr. A.K. Lomas, Chairman-cum-Managing Director, MECL during a glittering ceremony held at Vighyan Bhavan, New Delhi recently. This award includes a certificate of excellence and a memento. On this occasion other dignitaries present were Shri Vilasrao Deshmukh, Hon’ble Minister of Heavy Industries & Public Sector Enterprise, Shri Arun Yadav, Hon’ble Minister of State of Heavy Industries & Public Sector Enterprise and Shri Bhaskar Chatterjee, Secetary to Government of India, Department of Public Sector Enterprise, Minister of Heavy Industries & Public Sector Enterprise and galaxy of senior beurocrates and C.E.O’s of Public Sector Enterprises.

The Company made a remarkable Turn Around by registering all round growth and development, and achieving excellent physico-financial performance, thereby bagging the prestigious Excellence Award of the Government of India. MECL could write the success story because of the innovative thinking and strategic actions of Dr. A.K. Lomas, Chairman-cum-Managing Director. The able and dynamic leadership provided by Dr. Lomas was instrumental in achieving ‘Turn Around’. Shri C.P. Gupta, Director (Finance) and Dr. S.K. Haldar, Director (Tech.) also played an important role in ‘Turn Around’ efforts.

Dr. A.K. Lomas, CMD MECL has congratulated all the employees and officers for this achievement. He gives credit of this success to the dedicated and untiring efforts of all the employees of the Company. The support of Ministry of Mines, Government of India was also vital in the Company’s ‘Turn Around’.

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HIGHLIGHTS OF ACHIEVEMENTS DURING 2008-09
 

Ø      MoU Rating : The MoU composite score for consecutive third  year i.e.  (2007-08) was categorised under the “ Excellent ” category by the Ministry of Heavy Industries & Public Sector Enterprises.

Ø      ISO Certification : MECL is now  an ISO 9001 : 2000 certified organisation.

Ø      Drilling : During the year the drilling performance has been 221847 m representing 106% of MoU target and it is 108% of same period of the previous year.  

Ø      Gross Revenue : The  gross revenue is Rs. 10590  lakhs which is  112% of the same period of the previous year.

Ø      Gross margin & Net profit : The  Gross margin & Net profit before tax stood at Rs 7.31 Crores & 3.44 Crores respectively.

Ø      Mineral Reserves :  A total of 5694.87  million tonnes of reserves for various minerals i.e. coal, lignite, copper & gold were estimated during the year in the states of  Andhra Pradesh, Chhattisgarh, Jharkahnd, Madhya Pradesh , Rajasthan and Tamil Nadu. 

Ø      Business Development : A  total of  49 work orders valued at Rs. 432.52 crores  were received from various clients  such as M/s. CMPDIL & NMDC for exploration of coal, M/s. SAIL for exploration of iron ore and dolomite / limestone in their mine area, M/s. UCIL  & HCL for  developmental mining work, AMD for drilling in the parts of  Rajasthan and Haryana   and other agencies. 

Ø     Drilling for Evaporite : Completed successfully  the deep drilling for exploration of  evaporite in the Bikaner – Nagaur basin of Rajasthan  which is prestigious project of M/s. ONGC.

Ø      Drilling for CBM : Slim hole drilling for coal bed methane  along with associated activities was completed successfully  on behalf of ONGC.

Ø     Exploration in NER : MECL has   taken up the exploration for  coal at West of Tirap, Makum Coalfield, Dist Tinsukhia and for Glass Sand at Jiajuri, Dist. Nagaon, Assam  under promotional exploration programme funded by Ministry of Coal and Ministry of Mines respectively.

Ø      Oil shale studies :  MECL  along with BRGM France is also continuing studies for resource estimation in respect of oil shale deposit in an area of 254 sq.km. of  Assam & Arunachal Pradesh on behalf of Directorate General of Hydrocarbon, Govt. of India. This will help  in revealing  the oil potential in the shales of North Eastern Region of the country.  A number of boreholes have been completed successfully along with associated geological activities. The deepest one was drilled upto  a depth of 740 m.

Ø      For expanding business activities, MECL has signed  a long term MoU with M/s. CMPDIL  for exploration of coal & M/s. AMD for drilling of atomic mineral. 

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HIGHLIGHTS OF ACHIEVEMENTS & AWARDS DURING 2007-08
 

ACHIEVEMENTS

Ø      During the year, the drilling  achievement has been 2,05,860  metres which is around 5% higher when compared to 1,96,979 metres during previous year. Against the MoU target of  1,95,000 metres the achievement is 106%.    

Ø      In developmental mining, the performance has been 6640 metres as against the MoU target of 6600 metres representing 101 % of the target.     

Ø      The company has registered a gross revenue of  Rs. 94.46 crores as against Rs. 85.29 crores during 2006-07.  Against  the MOU target of  Rs. 87.50 crores it is higher by 8 %.  This achievement is the  highest since inception of the company.   

Ø      The gross margin and the net profit before tax stood at Rs. 12.88 crores and Rs. 9.56 crores respectively.  

Ø      The Outlay of Rs. 11.00 crores provided for promotional exploration on behalf of Ministry  of Mines has been fully utilized. 

Ø      4159.59 Million tonnes of reserves of various mineral (Coal:3609.43 MT, Lignite:419.42 MT, Copper: 20.67 MT,   Lead-Zinc:7.58 MT & Iron : 102.50 MT) were added to National Mineral Inventory during the year.    

Ø      As a result of vigorous business development efforts, MECL could obtain 49 contractual work orders from PSUs as well as private organisations valuing Rs. 98.87 crores as against Rs. 62.76 crores during previous year, thus registering an increase of around 57%.  

Ø      During 2007-08, MECL continued coal exploration on behalf of M/s. NTPC on turn key basis i.e. from formulation of exploration proposal to 3-D ore body modeling for their captive mines. 

Ø      MECL also continued exploration for salt in Bikaner area, a prestigious project of M/s. ONGC. This is a specialized job undertaken for identification of salt caverns.    

Ø      MECL along with BRGM France have on behalf of Directorate General of Hydrocarbons, Govt. of India  taken up studies for resource estimation in respect of  syncrude oil potential in oil shale deposits  in parts of Assam & Arunachal Pradesh.  

Ø      For expanding its business development activities MECL has signed MoU / Agreement with M/s. BRGM, France, M/s. DGH, Govt. of India, M/s. CMDCL,  M/s. APMDC-OMCL Consortium & M/s. SAIL.   

AWARDS  

Ø      MECL has been conferred with  ‘MOU Excellence Award’ for the “Best Turn Around Central Public Sector Enterprise”. This award has been instituted by Ministry of Heavy Industries & Public Enterprises, Government of India. 

Ø      The MoU rating of the company during 2005-06 & 2006-07 has been ‘Excellent and is expected to be Excellent in 2007-08” also. 

Ø     Dr. A.K. Lomas, CMD, MECL was conferred with ‘BestChief Executive Gold Award’ for excellence in Indian Industry by Public Sector Today  magazine under the banner of Rajiv Gandhi Memorial National Award 2007.  

Ø      The Institute of Economic Studies (IES) New Delhi has  conferred the “Udyog Rattan Award” on Dr. A.K. Lomas, CMD, MECL and the “Excellence Award” to MECL during  a seminar on Economic Studies held at New Delhi.