Iron Ore Mines

The Bihar government has initiated a process for auctioning of glauconite and iron ore reserves worth Rs 20,000 crore in Rohtas and Jamui districts and will engage SBI Capital Markets to prepare a report for the same, an official said on Saturday. The government held a meeting with several stakeholders recently to initiate the auction process, Additional Chief Secretary-cum-Mines Commissioner Harjot Kaur Bamhrah said. The state government will shortly issue an order for engaging SBI Capital Markets as the transaction advisor and also to suggest terms and conditions based on which the auctions would be conducted, Bamhrah told PTI. The state government has asked SBI CAPS, the investment bank and project advisor, to submit a detailed report, she said. Once the report is submitted, the state government will initiate the process of granting permission to allow mining of glauconite and iron ore reserves worth Rs 20,000 crore, in Rohtas and Jamui districts on a lease basis, the mines ...

The asset accounts would help identify alternate economic and energy-based resources, and aid in developing an ecosystem for containing illegal mining

Apart from a 1.1 mt plant, Neelachal Ispat Nigam has iron ore mines with reserves of 90 million tonnes and 2,500 acres of land providing scope for future expansion

Lenders, shareholders meeting to demerge steel company on Tuesday

Mining has been standstill in Goa since early 2018 after the Supreme Court cancelled 88 leases and prohibited the extraction of fresh ore

The Standing Committee on Coal, Mines and Steel in its report tabled in Parliament said that a huge amount of dues are outstanding from the states and other utilities

Steel companies in wait-and-watch mode, expect reduction from NMDC

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

The Thakurani block, with estimated reserves of around 179 million tonne, will make a valuable contribution to AM/NS India's long-term raw material requirements

Timing of auctions critical, premiums unlikely to match merchant mines

Brokerages are, however, bearish on iron ore prices in the near term

The Chhattisgarh government had issued show-cause notice to NMDC on June 11 for setting its loading plant outside mining area in violation of lease terms

Weak Q3, expansion delay at Dolvi, losses at foreign arms led to price correction

The decision taken by the Cabinet Chaired by Prime Minister Narendra Modi will also do away with end-use restrictions of the mining blocks

Last month, the company said the Chhattisgarh government has assured the public sector undertaking of renewing mining leases in the Dantewada district for another 20 years.

The merchant miners will be granted storage licenses valid is till March 31, 2022

NMDC and the state administration got into a legal battle over Donimalai after the state government decided to levy a premium on the iron ore extracted from the mine

Lower-grade iron ore fines are piling up at mine heads with no demand in the domestic market

Pramod Sawant said his government in working on an action plan to restart the mining industry

Last week, NMDC said it has suspended iron ore-mining at the Donimalai mine in Karnataka