Tata Steel will focus on augmenting iron ore production from 30 million tonne per annum (mtpa) to 45 mtpa in the next five years, a company official said. The total iron ore production from the steelmakers’ captive mines in Noamundi in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha, is about 30 mtpa. […]
JSW steel reported its highest-ever consolidated net profit after tax (PAT) at Rs 7,179 crore for the quarter ended September 30. This is an increase of 350 per cent over last year period’s profit of Rs 1,595 crore. The company has also clocked its highest-ever quarterly revenue from operations at Rs 32,503 crore in the […]
The iron ore price extended its slump below $100 a tonne as China stepped up restrictions on industrial activity in some provinces. The world’s biggest steelmaker is intensifying production curbs to meet a target for lower volumes this year as it works toward a target of reaching carbon neutrality by 2060. According to Fastmarkets MB, benchmark 62% Fe fines […]
ArcelorMittal Nippon Steel India (AM/NS India) has commenced operations at the Ghoraburhani- Sagasahi iron ore mine in the district of Sundargarh in Odisha. Spread over 139.165 hectares, the block has estimated resources of around 98.61 million tonnes and was the first to be auctioned under the Mineral Auction Rule, 2015. The captive mine is set […]
China’s iron ore producers aim to increase domestic iron ore concentrate output by more than 100 million tonnes between 2021 and 2025, an official with the country’s steel industry association said. Luo Tiejun, the vice-chairman of the China Iron and Steel Association (CISA), told a meeting in the steel heartland of Hebei province that government […]
As the Taliban seize control of Afghanistan, they have inherited vast resources of precious metals. These are resources that are of huge interest to countries like China. According to a US geological survey report, the value of Afghanistan’s mineral resources would run up to $1 trillion. The Afghan government meanwhile pegs the value at as […]
Global iron-ore production growth will accelerate in the coming years, predicts Fitch Solutions’ Country Risk and Industry Research. The firm forecasts that global mine output growth will average 3.6% over the 2021 to 2025 period, compared with a negative 2.3% over the previous five years. This will lift yearly production by 571-million tonnes by 2025, […]
It takes just one statement from Chinese authorities or a steel producers’ body in China to change the dynamics and economics of Indian companies in the iron ores sector. Prices of steel and iron ore in India have been volatile in recent weeks because of developments in China, which is trying to regulate the metal’s […]
For decades, mining has eaten into the forests of mineral-rich Chhattisgarh. But as the state moves away from opening coal mines, authorities have introduced measures to boost output of forest goods – from tamarind to cashew nuts and medicinal seeds. In the forests of Bastar in Chhattisgarh, women have been busy plucking the tan-coloured fruits […]
Steel prices in India have declined from the historical highs of July 2021 despite the slight rise in global steel prices. In July 2021, till 30 July, steel prices fell by approximately 3.5 per cent month-on-month. Steel prices were below 3 per cent off its peak value. Last week, India’s top steelmakers announced a price […]
