Iron Ore Mining

Goa govt completes first phase of auction of iron ore mining blocks

The Goa government has completed the first phase of auction of mining blocks with four companies winning bids for the extraction of ore from different mineral rich stretches of the coastal state, an official said on Thursday. The state Directorate of Mines and Geology (DMG) had conducted the e-auctioning process which will 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. The first phase of auctioning of the mining blocks has been completed. All the four blocks are assigned to the successful bidders, a senior DMG official told PTI. He said Vedanta Limited had won the bid for Bicholim-Mulgao mining block (North Goa) which has got more than 84 million tonnes of the iron ore reserve. Salgaocar Shipping Company Pvt Ltd won the bid for Shirigao-Mayem mineral Block in North Goa. The mine has more

Goa CM welcomes decision to abolish export duty on low grade iron ore

Goa Chief Minister Pramod Sawant on Saturday welcomed the Centre's decision to abolish export duty on low grade iron ore, citing that the move will give a boost to the mining sector and fetch higher revenue for the state government. Taking to Twitter, Sawant thanked the Union government for considering the state's request to levy nil export duty on low grade iron ore. I thank the Union Govt led by Hon'ble PM Shri @narendramodi Ji for considering our request for levying nil export duty on below 58 Fe Iron Ore. My gratitude to the FM @nsitharaman Ji for the withdrawal of export duty that will give a boost to the mining sector and Goa's economy," the chief minister tweeted. In another tweet, Sawant thanked Union Home Minister Amit Shah stating that the move will fetch higher revenues for the state government during auctioning of mining leases. This will also propel the export of low grade iron ore from Goa, giving relief to various segments in the iron ore business and allied activiti

Can't allow in toto: SC rejects CEC advice for lifting Karnataka mining cap

Bench added that situation merits a cautious approach, keeping in view concerns raised and to ensure that any changes in situation with respect to Karnataka mining activity is brought about gradually

SC raises ceiling limit of iron ore mining for three Karnataka districts

The Supreme Court on Friday raised the ceiling limit of iron ore mining for Ballari, Chitradurga, and Tumakuru districts in Karnataka, saying conservation of the ecology and environment must go hand in hand with the spirit of economic development. The apex court raised the ceiling limit of iron ore mining from 28 MMT to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts. "Conservation of the ecology and the environment must go hand in hand with the spirit of economic development and the fine balance between the two goals is what is sought to be achieved even now," a bench headed by Chief Justice N V Ramana said. The bench, also comprising Justices Hima Kohli and C T Ravikumar, passed the order on pleas seeking lifting of the ceiling limits of iron ore mining in these districts. It referred to the May 20 this year order passed by the apex court which had granted certain reliefs relating to the sale and export of iron ore in these three distric

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 posts over 23% rise in iron ore output at 3.86 mn tonne in December

In the year-ago period, the miner had produced 3.13 MT iron ore from its mines, NMDC said in a BSE filing

Iron ore may stay elevated with robust Chinese demand, supply disruptions

Since Feb 2020, when Covid-19 was at its peak in China, prices of international iron ore skyrocketed by over 75% to a seven-year high of over $150 a tonne

Selling few iron ore blocks infrequently creates artificial deficit: Jindal

Says people end up paying a huge premium and then the assets become unsustainable

NMDC Q2 profit grows 10% to Rs 773 cr on account of reduced expenses

State-owned NMDC on Tuesday posted over 10 per cent rise in consolidated net profit at Rs 772.53 crore for September quarter 2020-21, on account of reduced expenses.

Karnataka govt to resume iron ore mining at Donimalai after 2 years

Donimalai is rich in iron ore and was in the custody of state-owned NMDC for 50 years when its lease period ended in 2018

ArcelorMittal to invest Rs 2,000 cr in Odisha, says Lakshmi Mittal

Mittal said, the company would work on the two iron ore mines- Sagasahi and Thakurani in Odisha

NMDC slashes iron ore price by Rs 400/tonne in second cut in 40 days

Firm say the move has given a lot of relief to steel companies, especially sponge iron-based firms in Chhattisgarh

The future is back in the pits for steelmakers as demand falls rapidly

Iron ore extraction in a falling demand scenario due to cutbacks in steel production is weighing on its prices

ArcelorMittal-Nippon Steel participating in iron ore auctions in Odisha

CEO Dilip Oommen said any steel company has to securitise its sources of raw materials and AMNS is no different

Odisha issues notification for auction of 20 iron ore, manganese mines

The steel and mines department had received bids from 177 companies for the auction of 20 mining blocks against the earlier tender.

NMDC freeze on Donimalai mining: Karnataka iron ore prices to rise 10-15%

JSW Steel says it has made arrangements to source iron ore from outside Karnakata to ensure uninterrupted supply for its steel plant

SC lifts annual iron ore mining ceiling in Karnataka to 35 million tonnes

No cap on Category C iron ore mines in the southern state; JSW Steel to be major beneficiary