India’s ministry of mines to address shortcomings in fixation of average sale price of minerals

India’s mines ministry is looking to address the “issues and shortcomings” that come in the way of fixation of average sale price (ASP) of minerals. The government has also sought suggestions from various stakeholders to overcome the issue till the National Mineral Index (NMI) is formulated for individual minerals. Miners’ body Federation of Indian Mineral […]

Read more

China’s iron ore imports from India jump by 88%; Australia and Brazil supplied most of its ore requirements

iron-ore.jpg

Australia and Brazil, the world’s two largest iron ore producers, remained China’s top suppliers in 2020, but imports from India soared 88 per cent as Chinese mills diversified sources amid sky-high raw materials prices. The two countries’ rise could not fully meet China’s demand. Chinese mills had to buy from other countries. Australian shipments rose […]

Read more

Iron ore miners seek withdrawal of import duty against ban on exports

iron-ore-mining.jpg

Reacting to the steel industry’s demand for a ban on iron ore exports, miners have written to the Prime Minister’s Office (PMO), calling for withdrawal of import and other duties meant for shielding the domestic steel industry which, they believe, has indulged in ‘profiteering’ taking undue advantage of the current market situation. Last week, steel […]

Read more

Iron ore miners in India dubs steel industry’s claim of shortage of ore as “artificial”; calls for complete ban on illegal export of iron ore pellets

iron-ore-scaled.jpg

Iron ore miners described the steel industry’s allegation that the steel making raw material is in shortage in the country at present as “artificial”. The domestic steel industry has been petitioning the government for imposing a ban on iron ore exports, at least for the time being, in view of the scarcity and spiraling price […]

Read more

Iron ore stockpiles at mines remain unsold: FIMI

iron-ore.jpg

The Federation of Indian Mineral Industries (FIMI) has said that stockpiles at mine-heads are increasing. Refusing to allow their exports will only amount to complete wastage of a material which can earn valuable foreign exchange for the country, it said. Currently, India requires around 165 million tonnes of iron ore as against production of 206 million tonnes […]

Read more

E-auction dates for commercial mining of coal likely to be extended again

glencore-coal-mine.jpg

The dates for submission of bids for online auction of coal blocks for commercial mining could be further extended due to disruptions caused by the COVID-19 pandemic. The Centre had earlier extended the dates for submission of technical bids. According to the revised schedule, the last date for submitting a technical bid is 2 pm of September 29, and […]

Read more

FIMI hopes stimulus package will provide some relief to the “highly taxed” mining sector

Miners’ body FIMI hailed the Rs 20 lakh crore special economic package, expressing hope that the stimulus will also be used to give relief to “highy taxed and struggling” mining sector. “We are grateful to the Prime Minister for announcing the financial stimulus of Rs 20 lakh crore to make India self-reliant and boost MSMEs…,” […]

Read more

Federation of Indian Mineral Industries seeks waiver of 15% duty on bauxite exports

As exports of non-plant grade bauxite from the country are losing traction in the international market, Federation of Indian Mineral Industries (FIMI) has sought exemption of 15 per cent duty levied on export shipments. The mineral lobby body has appealed to the Union finance ministry to exempt bauxite exports from duties. This intervention by the government will […]

Read more