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 […]
The global iron ore market is likely to have a shortfall following the dam spill and mine curtailments at top supplier Vale SA, according to Fortescue Metals Group Ltd. founder Andrew Forrest, who cautioned that other producers face constraints in boosting output. “We do have to face the reality of a potential deficit,” Forrest said […]
European scientists have announced plans to start mining the moon as early as 2025, though what they’ll be extracting is neither gold nor diamonds, but waste-free nuclear energy thought to be worth trillions of dollars. The goal is to place a lander on the lunar surface to mine and process regolith for water, oxygen, metals and an […]
The recent revocation of the mining licence of Vale SA for the Brucutu mine in Brazil will be favourable for domestic iron ore miners and steel producers in the short term, believes India Ratings and Research (Ind-Ra). With a limited supply of iron ore, the hardening prices of iron ore and steel in the international […]
Taking cues from the global market, domestic primary steel producers have raised prices of steel by Rs 750 per tonne from February 1. This is the first hike in domestic steel prices since October. Domestic steel prices were in the range of Rs 42,000-44,000 per tonne depending upon various products. Naveen Jindal-led Jindal Steel & […]
