India may export 17.3 million tonne iron ore in 2012-13, a far cry from the 61.8 million tonne export in the previous year and 120 million tonne in 2009-10, investment bank Barclays Capital said in a forecast. Between Apr-Nov 2012, the country exported 15 million tonne ore, compared to 36 million tonne in the previous year. This is a decline of 62.3 per
Tag: Mining
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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Centre to assert its right to allot coal blocks
In a reply to the Supreme Court, the union coal ministry plans to assert its right to allocate coal blocks under legislations like Coal Mines (Nationalisation) Act, Coal Bearing Areas Acquisition & Development Act. It may be recalled that the apex court recently questioned the centreÂ’s authority to allocate coal blocks during the hearing of a public interest litigation (PIL) rega
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Experts call for transparency in allocation of mining assets
Experts and industry observers call for a transparent process to allocate mining assets to private players in the wake of a series of irregularities in the mining sector in Odisha, Goa and Karnataka. Whether the mining blocks are allocated by the state government or the central government, the zone of discretion should be minimised, said RV Shahi, a form
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AOSF alleges miners of charging high price for ore
Iron ore mining companies in Odisha charge exorbitant rates while selling ore to local steel firms, alleges the All Odisha Steel Federation (AOSF). The body, which represents the interests of local steel units and sponge iron manufacturers, alleges that two mining lessees- Sirajuddin and Indrani Patnaik had offered ore for sale to such
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Some members of house panel seek ban on ore exports
Considering the acute shortage of iron ore being faced by the domestic steel firms, some members of the Parliamentary Standing Committee on Coal and Steel feel the need to ban export of the raw material completely. The members have recommended blanket ban on export of iron ore to address the shortage of the steel making ingredient
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Mormugao Port explores options to overcome crisis
Mormugao Port Trust in Goa is exploring various options to overcome the financial crisis that it is facing because of a sharp decline in iron ore export cargo. According to reports, the port is planning to reduce the staff strength through Voluntary Retirement Scheme (VRS). But the authority needs to secure the support and c
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Operating cost of JSW Steel seen under pressure
Analysts expect the operation cost of JSW Steel to have remained under pressure in Oct-Dec 2012 as it is forced to source raw material at higher cost on the back of iron ore shortage and mining ban in Goa and Karnataka. Analysts also expect the company to suffer from weak pricing power owing to subdued demand in Oct-Nov and this they expect to show up in its earnings for Oct-Dec 2012