A stockpile of 43 million tonnes of iron ore fines has come in handy for Steel Authority of India Ltd (SAIL) as the state-owned company tackles an economy battered by the coronavirus pandemic.
SAIL mines have a stock of 42.98 million tonnes of sub-grade iron ore fines considered as inventory with nil value in 2018-19. When the mines ministry in September 2019 allowed SAIL to sell up to 25 per cent of its total mineral production in the previous year, the equation changed.
The ministry gave the permission to solve an anticipated disruption in supply due to the expiry of 31 working