In its latest quarterly report, the Australia’s Department of Industry predicts Chinese steel output – which represents half global production – has reached its high water mark. The official forecaster of the world’s top exporting country sees Chinese steel production peaking at 940 million tonnes this year before going into a steady decline, dragging down imports […]
The iron ore and steel industry in India has urged the government to abolish import duty and GST compensation cess on coking coal, a key and expensive requirement in iron smelting, reports Business Standard. India doesn’t have good quality coking coal deposits, leading pig iron and steel manufacturers to lean heavily on imports. At the […]
The Karnataka Iron and Steel Manufacturers’ Association (KISMA) has demanded fresh auction of iron mines in Karnataka to provide a level-playing field between captive and merchant miners. The industry body also claimed that the concerns raised by merchant miners over the possible supply shortage post expiry of mining leases in March 2019 are “baseless” and […]
A delay in the auction of iron ore mines, whose licences are expiring by March next year, could hit steel production significantly in the country, a report by India Ratings (Ind-Ra) has cautioned. Licences of 288 merchant mines, of which 59 mines are under operations, will expire by March next and if the auction of […]
India’s National Mineral Development Corporation Limited (NMDC) is in the process of investing about One billion dollars on infrastructure in the next three years to help ramp up iron ore production, a senior official of the public sector undertaking told Hindu Business Line. Amitava Mukherjee, Director (Finance), said that the cost of the upcoming 3-million […]
In the heat and dust of elections, what appears to have missed the public eye is a lost opportunity worth billions of dollars for India’s iron-ore exports. Few political leaders appear to be talking about it except for those in the tiny western state of Goa, where the economy has been brought to the brink […]
Higher price and poor quality led to an unsold iron ore inventory of 2.24 million tonnes in 2018-19 in Karnataka, according to industry body KISMA. The development assumes significance as a group of mining dependents in Karnataka had earlier requested the Supreme Court-appointed panel to allow free iron ore trade and give preference to local […]
Indian iron-ore miner NMDC Limited will ramp up its production capacity to 63-million tonnes a year by 2021/22, from 32-million tonnes achieved in 2018/19. The company is also planning to reduce logistics and transportation costs by 55 per cent by constructing a slurry pipeline. Incremental production volume of around 52-million tonnes a year will come […]
Leading non-integrated steel players like Jindal Steel & Power Ltd (JSPL) and JSW Steel Ltd are set to profit from the muted hike in domestic iron ore prices. The subdued iron ore prices would also benefit Tata Steel as Bhushan Steel (a company Tata Steel took over in insolvency resolution) sources ore from Odisha, a […]
A group of mining dependents in Karnataka has requested the Supreme Court-appointed panel to allow free iron ore trade and give preference to local ore over imports, stating that various restrictions on mining in the state have made their livelihood uncertain. Mining dependents pointed out caps on mining volume, e-auction and other restrictions have lowered […]
