India’s top steelmakers take diverging paths on iron ore sourcing
3 weeks, 6 days ago

India’s top steelmakers take diverging paths on iron ore sourcing

Live Mint  

India's two largest steelmakers are moving on divergent paths in the sourcing of iron ore for their steel plants. JSW Steel, which has historically had more reliance on the open market to meet its iron ore demand, is aggressively bidding to acquire more captive mines, or mines under its leasehold. Tata Steel's captive sources Tata Steel is evaluating how much of its iron ore procurement it wants to meet from captive sources “because if the bid premiums are very high, then it really doesn't make sense to have 100% captive because you can get it cheaper from the market", T.V. If mines are available at a reasonable price, steel producers would prefer 100% integration for iron ore," said Sumangal Nevatia, associate director at Kotak Securities. Nevatia explained JSW Steel's aggressiveness in bidding for captive mines, pointing out how it had been “completely reliant on the market for iron ore a few years back and has been at the receiving end in the last decade due to several instances of supply disruption on state mining bans".

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History of this topic

NMDC’s iron ore output rose 18% in February on flat sales
3 weeks, 5 days ago

NMDC’s iron ore output rose 18% in February on flat sales

The Hindu  

State-owned iron ore miner NMDC reported an almost 18% increase in production to 4.62 million tonne for February from the 3.92 MT a year earlier. “Consistent growth like this is an outcome of an efficient mining ecosystem driven by an innovative and ingenious spirit. NMDC has committed to build a 100 MT iron ore mining capacity by 2030 and towards …

NMDC and SAIL’s R&D facilities ink MoU
1 month, 2 weeks ago

NMDC and SAIL’s R&D facilities ink MoU

The Hindu  

Public sector enterprises NMDC and SAIL, through their research and development facilities, have signed a MoU to leverage their collective expertise for the advancement of steel industry. The collaboration aims to drive innovation in mineral processing and coal utilisation, with a focus on developing advanced beneficiation techniques to upgrade low/lean-grade iron ore and enhance coal processing efficiency, critical for strengthening …

Staff cheer VSP revival package but seek a permanent solution
2 months, 1 week ago

Staff cheer VSP revival package but seek a permanent solution

The Hindu  

Sumit Bhattacharjee The Union government’s revival package of ₹11,440 crore to the ailing Rashtriya Ispat Nigam Limited, the corporate entity of the Visakhapatnam Steel Plant, might have brought smiles back on the faces of its employees, but it may not be a permanent solution to the largest shore-based integrated steel maker. The revival plan envisaged that RINL would start full …

JSW secures Hindustan Copper mines in Jharkhand in strategic move into non-ferrous metals
3 months ago

JSW secures Hindustan Copper mines in Jharkhand in strategic move into non-ferrous metals

Live Mint  

The Sajjan Jindal-led JSW Group has added copper to its metals business, marking its entry into the non-ferrous metals industry and opening up doors to a vast range of consumer applications, including electronics, telecommunications and healthcare. “The idea is to venture into non-ferrous metals because copper will be in huge demand, be it from EVs, the renewable grid, construction, home …

Mining and steel firms in a limbo on tax uncertainty and weak prices
3 months ago

Mining and steel firms in a limbo on tax uncertainty and weak prices

Live Mint  

Mining and steel companies are caught between a rock and a hard place. A lingering concern is that the Karnataka Tax Bill 2024—which proposes to impose tax on a retrospective basis from 2005 and rates up to 3x the existing royalty rate—could significantly erode their profitability. The casualties are NMDC Ltd and Vedanta Ltd, the mining companies, and JSW Steel …

Karnataka’s new minerals tax stumps iron ore mining companies
3 months, 1 week ago

Karnataka’s new minerals tax stumps iron ore mining companies

Live Mint  

A proposed legislative bill in Karnataka could triple the tax burden on miners operating pre-auction era iron ore mines, potentially squeezing their margins and triggering ripple effects on steel prices, according to experts. Together, these companies account for a significant portion of Karnataka’s iron ore production, which makes up roughly 15% of India’s annual output of 280 million tonnes, according …

JSW Group explores expansion into copper, aluminium, has engaged consultants, says top executive
3 months, 2 weeks ago

JSW Group explores expansion into copper, aluminium, has engaged consultants, says top executive

Live Mint  

The JSW Group, which has the largest steelmaking capacity in India, is exploring entry into making other metals, including copper and aluminium, JSW Steel chief executive officer Jayant Acharya said. JSW Steel, along with Aditya Birla Group’s Hindalco, was in contention to acquire two copper mines in Jharkhand owned by public sector firm Hindustan Copper, PTI reported in October citing …

JSW to invest ₹65,000 cr for new steel plant in Odisha
1 year, 1 month ago

JSW to invest ₹65,000 cr for new steel plant in Odisha

Live Mint  

JSW Steel Ltd, India’s largest steelmaker by capacity, will invest ₹65,000 crore to set up one of its biggest manufacturing plants, in Odisha, adding to the country’s efforts to boost production of the alloy. JSW Steel, part of the $23-billion JSW Group, is establishing a greenfield complex in the industrial city of Paradip that will include a steel plant with …

A new iron ore mine 'every year to the end of this decade', but who will be the buyers?
1 year, 4 months ago

A new iron ore mine 'every year to the end of this decade', but who will be the buyers?

ABC  

Australia's iron ore sector built its foundations on demand from Japan during the 1960's. "China is nearing a structural peak in terms of its demand, it will still remain a very large market for us, but other markets, Asia and India, as examples, will continue to grow quite rapidly and that will offset any slowdown in demand," said Rio Tinto …

Want mineral-intensive growth for new-age economy? Ease mining
2 years, 2 months ago

Want mineral-intensive growth for new-age economy? Ease mining

Live Mint  

2022 has been remarkable for India. As India’s EV sales are set to rapidly for the rest of this decade, demand for lithium, cobalt, nickel and graphite will be enormous, along with that for iron ore in the form of steel, bauxite as a source of aluminium and copper, which are metals used across all types of vehicles. However, India’s …

China's iron ore traders seek low-cost Indian supplies as steel margins slump
2 years, 3 months ago

China's iron ore traders seek low-cost Indian supplies as steel margins slump

The Hindu  

China is set to snap up significant volumes of low-grade Indian iron ore in coming weeks, as Chinese steelmakers seek out cheaper raw materials to cope with meagre profits, said traders and analysts. "We are looking to resume buying from India after six months of suspension," said a Shanghai-based iron ore trader who booked some cargoes of Indian pellets for …

Steep steel prices hurt several sectors as China gorges on ore
4 years, 2 months ago

Steep steel prices hurt several sectors as China gorges on ore

The Hindu  

With several automakers recently announcing price increases to offset input costs, steel prices have come under the spotlight. Market intelligence firm SteelMint said on Friday that Indian iron ore exports had doubled to 40.7 million tonnes in 2020, from the previous year’s 19.1 mt. The ISA wrote to the Prime Minister’s Office last month flagged a dip in domestic iron …

Steel industry hit by weak demand, firms seek import barriers
10 years, 1 month ago

Steel industry hit by weak demand, firms seek import barriers

The Hindu  

The steel industry has been passing through challenging times with rising input cost and falling demand. “The industry also wants a cut in export duty of low grade iron ore of 55 per cent to 58 per cent grade, specially to revive mining in Goa, but it would not help much even if it comes through as price of high …

Trouble for steelmakers: Jharkhand orders closure of 12 iron ore mines
10 years, 6 months ago

Trouble for steelmakers: Jharkhand orders closure of 12 iron ore mines

Firstpost  

Jharkhand was India’s third-biggest iron ore producer in the fiscal year to March, with output of around 21 million tonnes. Mining curbs in India in states such as Goa and Karnataka along with mine closures in top producing Odisha have limited iron ore availability in the country, opening the door to more imports this year, which could help absorb some …

Cartelisation alleged by Karnataka iron ore mines
11 years, 1 month ago

Cartelisation alleged by Karnataka iron ore mines

Business Standard  

RISE IN PRICE The base price of 61% content iron ore fines have more than doubled to Rs 5,000 a tonne as against an average of Rs 2,250-2,475 a tonne charged by others Government-owned NMDC prices are Rs 2,000-2,200 a tonne The steep rise in ore prices has significantly increased the cost of operation for steel makers in Karnataka As …

India may have to start importing iron ore soon: Steel Ministry
11 years, 4 months ago

India may have to start importing iron ore soon: Steel Ministry

The Hindu  

The Steel Ministry is of the view that India will have to import iron ore in the immediate future to meet significantly increasing demand from domestic companies. The Ministry in its mid-year plan review has identified iron ore availability as one of the challenges to achieve the steel production target of 300 million tonnes per annum by 2025. With current …

Tata Steel eyes UK firm’s Indian assets
11 years, 7 months ago

Tata Steel eyes UK firm’s Indian assets

The Hindu  

India’s largest steel giant, Tata Steel, has set its sights on the Indian iron ore assets of one of Britain’s largest independent steel trading companies — Stemcor, according to a media report. According to ‘ The Sunday Times ’ sources, Tata Steel is keen to grab the iron ore to feed its Indian steel mills. The company, which bought over …

JSW Steel plans to bid for iron ore mining blocks in Karnataka
11 years, 11 months ago

JSW Steel plans to bid for iron ore mining blocks in Karnataka

Firstpost  

JSW Steel plans to bid for iron ore mining blocks in Karnataka that could go up for auction after a Supreme Court order last week, as the country’s third-largest steel producer looks to cut its dependence on costly imports. New Delhi: JSW Steel plans to bid for iron ore mining blocks in Karnataka that could go up for auction after …

Days of excessive profits are over
12 years ago

Days of excessive profits are over

The Hindu  

Hit by debilitating mining curbs and a clampdown on exports through high duties, India’s iron ore industry today is a pale shadow of what it was for much of the last decade, despite some recent forward movement on restarting iron ore mining in Karnataka, one of the key producer States. During the last decade, India’s iron ore miners became important …

China Wants Long-Term Agreements With Indian Iron Ore Firms
13 years, 4 months ago

China Wants Long-Term Agreements With Indian Iron Ore Firms

India TV News  

Panaji, Nov 17: In the backdrop of a slump in demand for the iron ore in his country, a senior Chinese embassy official today underlined the need to establish long term trade agreements and a new pricing system with India for maintaining demand and supply equilibrium. Observing that it is imperative to maintain a transparent and stable policy system of …

Centre May Hike Duties On Iron Ore Exports
13 years, 6 months ago

Centre May Hike Duties On Iron Ore Exports

India TV News  

New Delhi, Aug 29 : Government today said it may further increase duties on iron ore to discourage its export in order to keep it for meeting domestic demands. Nearly 50 per cent of the iron ore produced in the country has been exported over the last three years, he said. In 2008-09 212.96 million tonnes of iron ore was …

Export hassles likely to shave off profits from Sesa's casket
13 years, 8 months ago

Export hassles likely to shave off profits from Sesa's casket

Firstpost  

Mumbai: Iron ore producer Sesa Goa is in all likelihood set to face the consequences of heavy export duty imposed on it in March 2011. During the quarter, average spot iron ore prices were flat compared to last quarter at $ 181 per tonne, up 9.2 percent on an year on year basis. In Q1 FY12, Jain expects Sesa’s iron …

In Afghanistan, India Inc learns to hang together
13 years, 10 months ago

In Afghanistan, India Inc learns to hang together

Firstpost  

Sometime in August this year, some of the largest mining and steel companies around the world will make final bids for the exploration rights to the 1.8 billion tonne Hajigak iron ore mines in the war-torn Bamiyan province in Afghanistan. If the government sticks to its word, it could again be the first time that the government has supported an …

Iron ore exports to China: India loses to newer markets
15 years, 1 month ago

Iron ore exports to China: India loses to newer markets

The Hindu  

India's already skewed trade imbalance with China is set to continue to widen, with China increasingly looking elsewhere to source India's biggest export to the country — iron ore. In the past 12 months, China has steadily diversified its imports of iron ore, seeking out new markets such as South Africa and Canada which have more than doubled their imports …

Mines of conflict
19 years, 3 months ago

Mines of conflict

The Hindu  

The Orissa government has handed over to private companies virtually all the iron ore mines, which are in some of the most underdeveloped districts of the State, leading to protests by tribal people and environmental activists. The areas that would witness mining of iron ore and the setting up of new steel plants and captive power plants are Keonjhar, Sundargarh, …

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