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The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, or deep purple to rusty red. The iron is usually found in the form of magnetite, hematite, goethite, limonite or siderite. Iron Ore is used in manufacturing of Iron and Steel. Amoda Group has 12 Iron Ore leases in the states of Andhra Pradesh and Telangana.
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Payback periods for mining projects also vary widely, from 3-4 years to almost a decade. For example, after-tax payback periods for highly productive gold mines are in the order of 3 years at an internal rate of return of 25-35%, while many iron ore mines or coal mines show much more modest economic performance.
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