Ratings agency India Ratings warned that domestic steel makers may continue to face inadequate availability of domestic iron ore in the short-to-medium term and may have to import for meeting their requirements. The agency feels that the domestic iron ore mining industry is undergoing a difficult phase given regulatory inter
Tag: Mining
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Contract opportunities in mining sector
As the size of the economy grows, so does the demand for mineral resources like iron ore, coal, manganese, copper. India produces around 89 minerals out of which four are mineral fuels, 11 are metallic, 52 are non-metallic and 22 are minor minerals. In order to boost mining output, the central government revised the National Mineral Policy in 1994 and allowed private domestic and foreign investors to explore and exploit iron ore copper, zinc,
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Experts call for right policy in mining sector
Experts urge government to adopt appropriate policies to tap the mining potential in the interior tribal areas. They note that mineral rich states such as Chattisgarh, Odisha and Jhar khand, have high levels of poverty, indicating that mineral wealth has not translated into prosperity, so far. Therefore, they urge gove rnment to come out with policy that facilitates inclusive development of mining sector which takes into account the overall progress of local population.
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Contractual opportunities in iron ore segment
The increasing capacity of steel production in the country coupled with ban on illegal mining in some of the states have caused shortage of iron ore in the country. In this backdrop, several companies are looking to hire contractors for activities related to mining and supply of iron ore.
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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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Ministry not in favour of coal linkage to UMSPs
In a letter to steel ministry, coal ministry has reportedly denied grant of special status to the proposed Ultra Mega Steel Plants (UMSPs) for priority allocation of coal linkages. Indian steel firms meet upto 70 percent of their demand for coking coal, used as a raw material in steel-making, through imports. The steel industry consumed 43 mn t coking coal last fiscal. By 2017, reports suggest that demand from steel plants may
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INSDAG warns of ore shortage
Sushim Banerjee, Director General of Institute for Steel Development and Growth (INSDAG) cautioned that the Indian steel industry may face severe iron ore shortage in the coming years. Expressing his views in a leading media, he said the bigger issue facing the industry is iron ore shortage. This is going to hit the industry hard. He argued that Indian steel firms did not pay adequate atte
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NMDC allegedly produces less than allowed output
Steel and sponge iron makers of Karnataka alleged that NMDC was not producing iron ore at the permitted levels of 12 million tonne per annum and it was operating at less than half the threshold. Sponge iron and steel companies are facing severe shortage of iron ore because of ban on iron ore mining in Karnataka. These companies largely stayed away from the two recen