Reports suggest that government may offload its 10 percent stake in National Mineral Development Corporation (NMDC) before December 15.The NMDC issue may be followed by Oil India (OIL) and then National Thermal Power Corporation (NTPC), reports suggest. Besides, government also plans to offload some of its st
Tag: NMDC
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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
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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
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Iron ore issue hits steel firms
Steel makers in the country are complaining about lack of sufficient supply of iron ore, the key raw material for steel production, and also the increase in price by NMDC. Media reports suggest that steel firms are reducing their scale of operation and hence their capacity utilisation has declined because of shortage of iron ore. These firms
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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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Mining logistics Motion sickness
A recent mining ministry report recognises logistics as one of the several problems clogging the sector.It's yet another wake up call for the sector.It's raining mining reports out of the Pandora's Box that Justice Santosh Hegde opened.
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Mining logistics: Motion sickness
A recent mining ministry report recognises logistics as one of the several problems clogging the sector. It's yet another wake up call for the sector. It's raining mining reports out of the Pandora's Box that Justice Santosh Hegde opened.
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NMDC stake in Sunflag
NMDC has signed an initial agreement with Sunflag Iron & Steel Co to acquire a 26 percent stake in a Mozambique coal project.The pact with Sunflag forms part of NMDC's plan to invest in coking coal and iron ore assets overseas to propel its iron ore and upcoming steel projects.
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Karnataka mining in limbo
In the state that produces more than 35 million tonne of iron ore every year, accounting for more about 25 percent of the nation’s output, mining and exports of iron ore from the state have come to a complete standstill National Minerals Development Corporation (NMDC)
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NMDC to acquire coal mine
NMDC's has moved closer in its bid to acquire a coal mine in the US which will feed its proposed steel plants in India.