Consulting firm KPMG would work on the pricing mechanism for iron ore supplied by NMDC to steel companies in the country. The country's largest iron-ore producer has hired KPMG to devise a pricing mechanism following complaints by steel companies that NMDC is overcharging them. Media reports suggest that the new pricing mechanism may be implemented
Category: Coal & Mining
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AOSF urges govt, miners to supply stocked ore
All Odisha Steel Federation (AOSF) urged the state government and miners to liquidate idle iron ore stock and thereby resolve what it claims the "artificial crisis of iron ore". AOSF claims that there is 100 million tonne (mn t) of iron ore stacked up at different mine leases in the state and even the Shah Commission of enquiry has drawn the attention of the government and mine owners on this
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ArcelorMittal signs $447 mn sale pact
ArcelorMittal has entered into a sale and purchase agreement (SPA) with the head of its joint venture partner Kalahari Resources for sale of its 50 percent stake
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Roskill sees ore prices above $120 till 2014
London based metals and minerals research house Roskill Information Services expects prices to remain above $120 per tonne for 63.5 percent Fe content India
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CIL arm calls for new pricing regime
Coal India (CIL) subsidiary Western Coalfields argues that its proposed 25 new projects with a capital investment of about Rs 4,000 crore would not be viable unles
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Mining firms in Odisha gets notices
Several mining firms in Odisha received notices from the state government seeking penalty for
mining "without statutory clearances" over the past deca
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Assocham seeks solution to coal linkage issue
In order to ensure fuel for the upcoming power projects, the newly appointed Minister of State for Power Jyotiraditya Scindia must immediately resolve the coal linka
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CII against coal block de-allocation
Adi Godrej, President, Confederation of Indian Industry (CII), remarked that coal blocks allocated under due process should not be cancelled, as any such cancellation will adversely impact business sentiment. He also said that the judiciary should only interfere if there is any violation of law.
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Panel suggests auction of mining leases
In order to bring about transparency and increase state revenue from allocation of mining leases, Justice MB Shah Commission recommended that such leases be granted through public auction. After holding several hearings and inspections in Goa, the commission said natural resources, mostly iron ore, had made a few leaseholders billionaires. It is necessary that leasehold rights for mining are granted by public auction. This would increase the income of the state and there would be transparency in
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A tough performer
The Construck PRIMA range of tippers from Tata Motors is especially suited to provide the necessary momentum in the construction and mining sectors.