While IndiaÂ’s infrastructure investment is likely to provide a boost to steel demand over the long term, there could be challenges to the raw material availability. Iron ore related uncertainties could be sorted out in the medium to long term,
Tag: NMDC
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NMDC to decide on partnering with SAIL, RINL
At its board meeting in May, state-run miner NMDC is expected to take a final decision on partnering with either Steel Authority of India (SAIL) or Rashtriya Ispat Nigam (RINL) for its proposed steel project. It may be recalled that SAIL and RINL evinced interest to partner with NMDC on its proposed Rs 15,525-crore steel project at Nagarnar in Chhattisgarh
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NMDC trims price of lumps for 5th time since Oct
Iron ore mining firm NMDC reduced price of higher grade iron ore (lumps) for the fifth time since last October. This time, the state-run miner cut the price of lumps (having iron content of 62 per cent or above) by about 7 per cent for April. However, the company has not changed the price of iron ore fines (lower grade) for the second month in succession
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FIMI wants govt to encourage investment
Federation of Indian Mineral Industries (FIMI) is an all-India federation registered under the Companies Act, 1956 to promote the interests of mining, mineral processing, metal making and other mineral-based industries
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Subdued demand, rain hit output of NMDC
Subdued demand and incessant rain affected the sale of iron ore by state-run miner NMDC. Iron ore sales of the company declined to 5.9 million tonne (mn t) in the quarter ending September 2012 compared to 7.6 mn t in the year-ago period. Similarly, in the December 2012 quarter, the firm witnessed decline in ore sales to 5.3 mn t from 6.4 mn t durin
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NMDC gets response from buyers for steel project
Media reports indicate that public sector iron ore miner NMDC received encouraging response from steel firms for the expression of interest (EOI) floated by it to sell 50 percent stake in an upcoming project. The company is setting up a 3 million tonne per annum (mn tpa) steel plant at Nagarnar in Chhattisgarh with an investment of Rs 16,000 crore. Work on the proj
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NMDC reduces iron ore lump prices by 2.2%
NMDC, which decides its monthly iron ore prices on the basis of domestic demand and supply position, reduced the same for lumps by about 2.2 per cent for March. The firm trimmed the price of ore lump by Rs 110 a tonne, with the new price being Rs 4,950 a tonne. The reduction in the price of lumps may provide some relief to d
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Listed CPSUs suffer value erosion
While the listed CPSUs showed a dismal growth performance during April-December 2012, their net profit contracted just over seven per cent during the period.
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part