ASSOCHAM warned the government against reducing the export duty on iron ore as the industry body feels that such an action would encourage export and deprive the domestic steel firms of the crucial raw material. The warning from the industry body comes amidst demand from a section of the mining industry to review its e
Tag: Mineral
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China depends less on India for iron ore
China's dependence on India for iron ore has been declining in recent years. The ban on mining in Karnataka and Goa have exacerbated the decline of iron ore export from India to China. Following this, China started relying more and more on South Africa and Australia for ore supply. In 2012, South Africa overtook India to become China's third-bigg
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SAIL-led consortium to meet Afghan officials
The Indian consortium, that won the bid to mine iron ore reserves in Hajigak near Kabul in Afghanistan over one year ago, would meet officials of mining ministry in the country in a month's time. Although the consortium bagged the mining asset over a year ago, it has not signed a mining contract with the Afghan government because of contentious
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Odisha govt puts condition on raw material supply
Reports suggest that Odisha government has made some reservation in maintaining its commitment to supply raw material to steel projects, the memoranda of understanding (MoU) for which are already signed. In the case of existing MoUs, the government may not retain any clause committing grant of or recommendation for grant of Mineral Concession, a guid
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Prime Minerals exports 72,892 t ore to China
Recently, around 72,892 tonne of iron ore fines mined in Maharashtra was exported to China from a port in Goa by Prime Minerals Exports. Reports suggest that this is the first shipment of iron ore to China from India since a ban on mining in Goa took effect in October 2012. In October last year, Supreme Court banned mining in Goa after allegations of illegal mining from a federal gove
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RBI allows loan recast for mining firms
Agency reports suggest that Reserve Bank of India (RBI) said it does not have any objection for banks restructuring the loan of the mining industry in Goa if they are based on the prescribed guidelines.Ban on mining in the state affected around 22,000 trucks and 400-odd ships in the state transporting ore from different parts of Goa to
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Bauxite shortage to halt operation in Lanjigarh refinery
Media reports quoted a top executive of Vedanta Aluminium (VAL) as saying that the company is forced to shut down its one-million-tonne (mn t) alumina refinery in Odisha because of shortage of bauxite. The company had issued a three-month advance notice in September to close the refinery, as it had no bauxite stock to run the plant beyond the deadline. Meanwhile, the state steel & mines Minister Rajani Kant Singh
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Bauxite shortage to halt operation in Lanjigarh refinery
Media reports quoted a top executive of Vedanta Aluminium (VAL) as saying that the company is forced to shut down its one-million-tonne (mn t) alumina refinery in Odisha because of shortage of bauxite. The company had issued a three-month advance notice in September to close the refinery, as it had no bauxite stock to run the plant beyond the deadline. Meanwhile, the state steel & mines Minister Rajani Kant Singh
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KPMG to work on pricing plan for NMDC
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
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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