Kudremukh Iron Ore Company Ltd: The Sun Sets on Its Mining Operations

Murthy, K N and Seshadri, D V R (2009) Kudremukh Iron Ore Company Ltd: The Sun Sets on Its Mining Operations. [Teaching Resource]

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Abstract

Kudremukh is a breathtaking mountain range in Chickamagalur District, Karnataka, India. Three rivers originate here and form an important lifeline for South India; the is ecologically very sensitive. The National Mineral Development Corporation (NMDC) conducted prospecting surveys in 1967 and obtained a mining license from the government of Karnataka for an area of 5218 hectares. In 1969, the government of India floated a public-sector undertaking, the Kudremukh Iron Ore Company (KIOCL), and NMDC turned over its 30-year mining lease to KIOCL. The majority of the surrounding communities were apprehensive about the possible impacts of massive mining operations in the virgin forest area. KIOCL's mining activities flourished, making it into Asia's largest mining and pelletization company. However, in 1985, the government of Karnataka declared Kudremukh region as a National Park under the Wildlife (Protection) Act of 1972, in order to provide effective protection to the rich flora and fauna in the region. The area leased to KIOCL was an enclave within the southern half of the national park and the mining operations started witnessing opposition in 1995, with wildlife conservationists and environment protection organizations staging rallies and agitations against KIOCL's operations. Activists filed numerous petitions in the Supreme Court, asking the court to end the activities of KIOCL in order to protect Kudremukh from the ravages of mining. The case focuses on important issues relating to shareholder vs. stakeholder responsibility in the context of ongoing ecological degradation, increased environmental awareness in Indian society, and consequent changes in legislation.

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Seshadri, D V RUNSPECIFIED
Item Type: Teaching Resource
Additional Information: The research article was published by the author with the affiliation of IIM Bangalore.
Uncontrolled Keywords: Nature Conservation, Mining, Beneficiation, Pelletization Corporate Social Responsibility
Subjects: Marketing
Depositing User: Veeramani R
Date Deposited: 12 Apr 2019 10:41
Last Modified: 12 Apr 2019 10:41
URI: http://eprints.exchange.isb.edu/id/eprint/813
Publisher URL: https://hbr.org/product/kudremukh-iron-ore-company...
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