National Mineral Development Corporation (NMDC) decided not to raise the price of iron ore lumps and fines for September considering slackness in demand. Thus, the firm would continue to sell at the current price of Rs 4,200 a tonne of iron ore lump and Rs 2,510 per tonne of fines
Tag: Iron Ore
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Exporters take advantage of rise in price, rupee weakness
Mining firms are exporting iron ore in a big way on the back of increase in the price of the commodity in the global market and depreciation of rupee. Many miners are exporting iron ore fines and pellets to China as the price of the commodity rose considerably in recent days. Sources indicate that the prices of pellets rose from Rs 6,200 per tonne a month ago to Rs 6,700 per t
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House panel wants govt to discourage ore export
Government must gradually reduce iron ore exports to ensure that adequate quantity of this mineral is available for domestic requirement, a Parliamentary standing committee said. In its report, the Parliamentary Standing Committee on Coal and Steel suggested raising the export duty on iron ore beyond the existing 30 per cent. The report was table
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Poor quality iron ore affects steel makers in Karnataka
Due to supply of poor quality iron ore, steel manufacturers in Karnataka have been facing several difficulties like sharp rise in cost of operations, maintenance shutdowns. The supply of low-grade and sub-grade iron ore has also resulted in higher consumption of coke in steel making, as well as affecting the life of their blast furnaces, say media reports.
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Tata plans to produce 1 mnt iron ore from Canadian project
During the current fiscal, Tata Steel is planning to produce one million tonne iron ore from its Canadian project. When it materialises, it will boost the raw material supply to Tata's European operations. The company is also targeting to ramp up the production from Direct Shipping Ore (DSO) project to over 3 million tonne (mt) next fiscal, the company has said.
The production is expected to begin from October-December quarter.
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Paradip port to conduct another round of bidding for two projects
Sources from Paradip Port Trust (PPT) informed that
the authority would conduct fresh bidding for the Rs 591.35 crore the iron ore berth project and Rs 387.31 crore multi-purpose berth project. The port authority wants to engage a private player for the construction of a 10-mn tpa deep draft iron ore bert
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Mormugao Port takes steps to attract diversified cargoes
Mormugao Port Trust is taking steps to attract cargoes other than iron ore in order to ramp up its revenue, which took a hit following the decline in iron ore export. Over 80 per cent of the total traffic at the port consisted of iron ore export cargo till the mining ban in Goa affected shipment of the raw material
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JSW Steel chief expects better capacity utilisation
Sajjan Jindal, Chairman and Managing Director of JSW Steel is hopeful that the firm may improve its productivity and capacity utilisation as iron ore mining operation resumes gradually in Karnataka. Jindal said this at the company's Annual General Meeting. The company expects that with the sale of sub-grade ore, the iron ore quality may improve in the coming months and this would enable the firm ramp up capacity utilis
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India under US scanner for dumping steel pipes
India is under the scanner of the US Department of Commerce for alleged dumping of cheap steel pipes in the country thereby affecting the business of local manufacturers. The Commerce Department launched a probe against South Korea, India, Vietnam, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, and Ukraine on alle
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JSW Steel eyes assets of Stemcors
Jindal Steel and Power and JSW Steel are eyeing stake in the British steel trader Stemcor's Indian iron ore assets. JSW is reportedly holding discussion with Stemcor on this matter. Stemcor appointed Goldman Sachs to find a buyer for its Indian assets which include a iron ore mine and iron processing facilities in the state of Odisha, valued by a