Ministry of Mines stays cancellation of NMDC lease for Donimalai mine in Karnataka

The Ministry of Mines has put an interim stay on Karnataka government’s decision to cancel the lease given to NMDC (National Mineral Development Corporation) for the Donimalai iron ore mine, till the next date of hearing, Business Standard reports. On August 17, Karnataka government had decided to cancel the lease and put the mine under auction. NMDC had […]

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Australia predicts 50% drop in iron ore price by 2021

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 […]

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Indian iron ore and steel players urge government to abolish import duty on coking coal

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 […]

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Karnataka steel industry body calls for fresh auction on ore mines

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 […]

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NMDC to invest $1 billion on infrastructure

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 […]

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