Orissa Minerals Development Company Ltd

Orissa Minerals Development Company Ltd was incorporated in the year 1918. The Company is one of the oldest iron ore mining companies in India. The company engages in mining and producing iron ore and manganese ore. They also produce sponge iron. Their mines are located around Barbil in Keonjhar district of Orissa. The company is a subsidiary of Eastern Investments Ltd.

The Company operates 6 Iron Ore and Manganese Ore mining leases at Barbil in Keonjhar Dist. of Odisha, namely Dalki Manganese Mines, Kolha Roida Iron & Manganese mines, Thakurani Iron and Manganese Mines, Belkundi Iron and Manganese Mines, Bagiaburu Iron Mines and Bhadrasahi Iron and Manganese Mines. It has a joint venture in the name and style of East India Minerals Ltd (EIML) with stake of 26%.

Initially, the company was under the Bird Group of companies in 1980. The Bird Group of Companies was nationalized by the Government of India. Consequent upon such nationalization of the Undertaking, the shares held by the said company in twenty one companies were transferred in the name of the President of India.

After the company came under the Ministry of Steel, Government of India, the Government extended financial support to the company in the Development of Mines, Clearing outstanding dues, Creating facilities for sizing iron ore and Replacement of old/ worn out equipment and providing new equipment.

In the year 1992, the company set up a joint venture company, namely East India Minerals Ltd for production of sponge grade iron ore. From September 1999, they started commercial production.

During the financial years 1994-95, 1995-96 and 1996-97 the company was able to achieve marginal profits. Consequent to recession in Iron and Steel Industry the position deteriorated from 1997-98 since the demand of its products declined sharply. With the recessionary trend in the steel industry having been over since 2003 onwards, the company's position improved and they had started making significa