Iron Ore Output

The production of iron ore and manganese ore witnessed a growth during the April-August period of the ongoing fiscal. The output of iron ore rose by 7.4 per cent to 116 million tonnes (MT) during the said period compared to 108 MT registered in the corresponding period of previous fiscal, according to a provisional data released by the mines ministry. The production of manganese ore jumped by 15.4 per cent to 1.5 MT during the April-August period as compared to 1.3 MT in the previous financial year, the ministry said in a statement. Iron ore accounts for about 70 per cent of the total mineral production in terms of value. In the non-ferrous metal sector, primary aluminium production rose to 17.49 lakh tonnes (LT) during April-August from 17.26 LT in the year-ago period. "During the same comparative period, refined copper production has grown by 5.8 per cent from 1.91 LT to 2.02 LT," the ministry said. India is the second largest aluminium producer, among top 10 producer of refine

NMDC posted "best-ever yearly performance" in FY24 with iron ore production rising 10 per cent to cross 45 million tonnes and sales going up 16 per cent to touch 44.48 million tonnes mark, the company's CMD Amitava Mukherjee said on Tuesday. The nation has witnessed strong growth of 7 per cent year-on-year in iron ore output, with production increasing from 257 million tonnes in FY23 to an impressive 275 million tonnes in FY24, the CMD said while addressing NMDC's 66th Annual General Meeting (AGM). "I am delighted to share that NMDC has played a significant role in this achievement, securing a commendable 16 per cent market share. FY24, NMDC registered its best ever yearly physical performance as it produced 45.02 million tonnes and sold 44.48 million tonnes of iron ore," he said. The company recorded a 10 per cent growth in production and 16 per cent growth in sales compared to FY23 volumes, Mukherjee said. The performance translated into a strong financial performance earning a .

Country's largest iron ore miner NMDC has reported a 37 per cent fall in its production at 2.34 million tonnes (MnT) in May 2024. It had produced 3.71 MnT of iron ore in the same month last year, the company said in an exchange filing on Saturday. NMDC's monthly sales also declined by 22 per cent to 2.82 MnT in May this year from 3.62 MnT in May 2023. The company's cumulative iron ore output fell to 5.82 MnT in April-May 2024 from 7.22 MnT in the year-ago period. Sales during the said period were at 6.35 MnT, down from 7.05 MnT in April-May 2023. On Tuesday, NMDC had increased the prices of lump ore by Rs 250 a tonne and fines by Rs 350 per tonne with immediate effect. The miner revised the cost of lump ore to Rs 6,450/tonne and fines to Rs 5,610 per tonne. Under the Ministry of Steel, Hyderabad-based NMDC caters to India's around 20 per cent demand for the key steel-making raw material.

NMDC planned capex of Rs 1,750-1,800 crore for FY24 and Rs 2,000-2,100 crore for FY25

A bench comprising Chief Justice N V Ramana and Justices Surya Kant and Hima Kohli was told by the petitioner that the PIL on the issue had not been listed despite the assurance of the bench on Dec 9

During the period, sales of the country's largest iron ore miner also registered 43% growth, the Ministry of Steel said

Benchmark iron ore futures on China's Dalian Commodity Exchange recovered from four consecutive sessions of losses on Tuesday

Futures in Singapore tumbled as much as 12% on Monday in thin trading due to a holiday in China

NMDC is India's largest iron ore producer

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

The domestic secondary steel industry contributes nearly 55 per cent to the total production of the alloy in the country

Supply in the state is higher compared to demand amidst production restrictions and the ban on exporting ore out of the state imposed by the Supreme Court

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

NMDC's action is expected to encourage buyers to pick up larger quantities of the mineral in the near future

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

The Central Empowered Committee (CEC) set up by the Supreme Court on iron ore mining issues is considering a proposal for revision of the annual production level permitted for government-owned NMDC in Karnataka, taking new infrastructure into account.For another public sector player, Mysuru Minerals (MML), it is bringing down the limit from 4.06 million tonnes to two mt in 2017-18. Further reduction is expected in the following years, owing to inadequate infrastructure.The Maximum Permissible Annual Production (MPAP) for the two mines NMDC operates (in line with its Reclamation and Rehabilitation or R&R Plan) is 9.45 mt at present.The SC is hearing petitions related to issues in iron ore mining in Karnataka. The CEC has sent it an explanatory note on the new infra with NMDC, including railway sidings and a conveyor belt system; also due to reassessment of reserves and dumping space. It has suggested to the SC that NMDC be allowed to continue with its capacity at 12 mt for the ...