Page 5 - Iron Ore

Steel sector may face disruption in iron ore supplies with 232 mines expiry

With the leases of 232 merchant iron ore mines expiring in March next year, the country may face a short-term disruption in supply of the main ingredient used in making steel, Acuite Ratings & Research Ltd said today. "The expiring leases can potentially curtail about 25-30 per cent of the country's iron ore production, taking into account the expiring leases of other states as well," Acuite Ratings & Research Ltd said in its latest report. Iron ore is the main ingredient used in making steel. Consequently, any significant delay with respect to auctions and more specifically lease transfers will affect iron ore supply and prices, thereby putting further pressure on sector profitability. Non-integrated steel companies, which do not have access to captive iron ore mines, will be relatively more vulnerable in the event of such delay. Therefore, a smooth transition in the lease transfers through the upcoming auction process along with the expected increase in pellet availability ..

Steel Ministry moots separate iron ore auctions to curb profiteering

National Steel Policy envisages reaching steel production capacity of 300 million tonnes by 2030-31

Odisha falls behind in pace of mineral block auctions, Karnataka leads

Out of the 68 mineral blocks auctioned across India till August 6, only five were up for bidding in Odisha: three iron ore and rest limestone and manganese.

Intense bidding expected for next phase of Odisha's iron ore auctions

Pellet makers, sponge iron and pig iron producers allowed to participate

Odisha assures no iron ore supply shock after mines' validity ends in March

The state boasts of the country's largest iron ore output. In the last fiscal year, Odisha churned out 114 mt, contributing more than a half to the nationwide production of 207 mt

Applications invited for auction of 26 iron ore blocks: Pralhad Joshi

Iron ore is a key raw material used in steelmaking

Steel minister okays iron ore supply to Andhra for greenfield steel project

NMDC to soon sign an MoU with Andhra govt for ore linkage; steel minister Pradhan hints at huge petroleum investments in state, say players want to park as much as Rs 2 trn in the east coast

Mining entities in Karnataka expect iron ore prices to drop further

The company is now waiting for state clearances to resume operation

Odisha govt allows merchant miners to stash minerals in stock yards

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

Odisha govt invites bids for 10 iron ore and manganese blocks

The state government has invited both financial and technical bids both in physical and digital formats

With mining leases on verge of expiry, higher iron ore imports on cards

In 2015, India embraced competitive auctions as the best long-term approach to clamp down on corruption after scandals over allotments of mines

Iron ore stockpile at mine heads could hurt production post auctions

Inventory at pit-heads of mines lapsing by next March end largely has lower grade fines with Fe content of up to 62%, which has no takers in domestic market

Govt allows SAIL to sell 25% of its iron ore from captive mines

The ministry of steel has stated that more than 162 mt of low-grade iron ore are available at mine heads in India

Iron ore prices may decline to $60 on weak Chinese demand, says JSW Steel

Iron ore has had a volatile year. It surged in the first half, triggered by supply disruptions in Brazil and Australia, and plunged in August as output recovered and global growth slowed

Global iron ore, steel prices likely to shoot up with China demand

Beijing's proposed stimulus to slightly hit imports

Beleaguered steel firms see ground for 35% cut in iron ore prices

Prices of finished steel products tumble 10-25% since January

Steel manufacturers call for parity in iron ore, coal block auctions

Steel makers have sought the intervention of Prime Minister's Office to establish parity between coal and non-coal block auctions

Odisha to resume auctions of iron ore blocks; to offer 11 virgin blocks

A high-level committee of the state government has decided to issue the Notice Inviting Tenders (NITs) for auctions of 11 more virgin blocks on August 16

Pellet manufacturers oppose attempts to reimpose duty on exports

At present, pellets, an intermediate product in the process of steel making, enjoy a duty waiver regardless of their iron content

Steel ministry mulls options for duty free export of higher grade iron ore

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