Iron Ore Miners

Goa govt to auction 5 more iron ore mining blocks located in North Goa

The Goa government has started the process of auctioning five more iron ore mining blocks, all located in North Goa district, a senior official said. The state Directorate of Mines and Geology (DMG) had last month conducted the e-auctioning of four iron ore blocks, with an aim to pave way for the resumption of the state's iron ore mining industry in the state. The industry, which used to be one of the major revenue earners for the state, had come to a standstill in 2018 after the Supreme Court quashed 88 mining leases. "In the second phase, bids have been invited for the auctioning of Advalpale-Tivim Mineral Block, Cudnem-Cormolem Mineral Block, Cudem Mineral Block, Tivim-Pirna Mineral Block and Surla-Sonshi Mineral Block, the official from the DMG said on Tuesday. The last date for the submission of bids is March 27, 2023, he said. The e-auctioning of the leases would be held through the Metal Scrap Trading Corporation (MSTC).

Vedanta emerges as successful bidder for Bicholim mining block in Goa

In a development paving the way for resumption of iron ore mining in Goa, the state government announced on Wednesday that Vedanta Limited has emerged as successful bidder for a mining block auctioned earlier this year. Chief Minister Pramod Sawant told reporters that Vedanta was the highest bidder with 63.55 per cent revenue for Bicholim Mining Block, spread over 485 hectares. The state government had started the process to auction four mining blocks in the state including the Bicholim one earlier this year. The existing block was being operated by Vedanta itself before iron ore mining was stopped in the coastal state on the Supreme Court's orders in 2012. As many as 51 tender documents had been taken for the four blocks and eleven companies finally submitted their bids, Sawant said. Five companies had submitted bids for Bicholim Block, he added. State Director of Mines and Geology Suresh Shabhogue said the successful bidders will have to obtain fresh approvals including ...

NMDC in talks to invest in lithium exploration companies in Australia

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

Sandur Manganese turns ex-date for rights issue; stock zooms 50% in 7 days

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.

NMDC to be excluded from Nifty CPSE index over move to hive off steel arm

NMDC shares drop 5.3%; ONGC, Coal India and Bharat Electronics likely to see inflows of $31-46 million on account of the rebalancing

Goa government to e-auction iron ore mining leases, says CM Sawant

Goa Chief Minister Pramod Sawant on Wednesday said the state government is geared up to take over 88 leases, whose renewal was cancelled by the Supreme Court in 2018

NMDC hikes lump ore rate by Rs 100 per tonne; Rs 200 for fines

In a regulatory filing, the company said it has fixed the prices of per tonne lump ore at Rs 6,100 and that of fines at Rs 5,160 a tonne

NMDC produces record 40 MT iron ore, aims 42 MT output in FY22

State-owned miner NMDC on Saturday announced that it has touched a record iron ore production of 40 million tonnes (MT) in this fiscal so far.

Multiple tailwinds in NMDC point to major upside, mine-lease premium weighs

Favourable demand-supply situation pushing up ore prices, value unlocking through demerger, high dividends and cheap valuations are key positives

NMDC hikes prices of iron ore lumps and fines by Rs 400 a tonne

The country's largest iron ore miner NMDC on Tuesday hiked the prices of lump ore and fines by Rs 400 a tonne each with immediate effect.

NMDC Apr-Feb output jumps 26% to 37.18 MT; sales up 25.5%

In February 2022, the company saw its production growing 11.7 per cent to 4.31 MT from 3.86 MT in the same month last year

Brazilian mining firm Vale drops $1.2 billion claim in Steinmetz dispute

Vale and Steinmetz have been locked in a multi-pronged legal battle for years resulting from a failed mining joint venture in Guinea

Australian miners' earnings to shine spotlight on iron ore prices, demand

The world's biggest iron ore producer is set to log record annual earnings, owing to all-time high profits in its first half and a more diverse product mix

Rahul woos voters in Goa's mining belt, promises to restart industry

Congress will restart the mining industry as soon as the party forms government, Gandhi said, campaigning ahead of the February 14 elections

NMDC net profit jumps 122% in first nine months of FY22

The government-run NMDC registered a turnover of Rs 19,179 crore for the first nine months of the financial year 2021-22

NMDC iron ore output grows 28% to 33 MT in Apr-Jan; sales jump 25%

State-owned NMDC on Tuesday said its iron ore production surged over 28 per cent to 32.88 million tonnes (MT) in April-January 2021-22. The company's iron ore output was 25.66 MT in the same period last fiscal, NMDC said in a regulatory filing. In January 2022, the company said its iron ore production rose to 4.56 MT from 3.86 MT a year ago. Its total sales of iron ore during the April-January period increased over 25 per cent to 32.60 MT from 26.01 MT a year ago. The company sold 4.24 MT iron ore in January 2022 compared to 3.74 MT in the year-ago month. The Hyderabad-headquartered NMDC, under the Ministry of Steel, is the country's largest iron ore mining company. It is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.

Rio Tinto sees soft 2022 iron ore shipments on labour, project issues

The world's biggest iron ore producer said it expects to ship between 320 million and 335 million tonnes in 2022 from a region in Western Australia.

JSPL declared as preferred bidder for Kasia iron ore mine by Odisha govt

Jindal Steel and Power Ltd (JSPL) said on Thursday it has received official communication from the Odisha state government for grant of mining lease of the Kasia iron and dolomite mine

Rio Tinto pays $9.1-bn dividend as profit hits record on iron ore demand

Rio Tinto Group is the world's biggest iron ore miner

Domestic iron ore supplies may take time to ease

JSW Steel, AM/NS hold the key to iron ore supply woes