Home / Economy / News / Iron ore prices expected to fall 10-15% after ops resume at Donimalai mine

Iron ore prices expected to fall 10-15% after ops resume at Donimalai mine

Under the new rules, mining leases of state-owned companies will be renewed automatically without going through the auction process

Premium

Iron ore

3 min read Last Updated : Oct 11 2019 | 12:13 PM IST

Karnataka miners are expecting iron ore prices to fall by around 10-15 per cent with the iron ore supply likely to resume from NMDC's Donimalai mine.

Mining at Donimalai is set to resume after the Ministry of Mines amended the Minerals (Mining by Government Companies) Rules 2015. Under the new rules, mining leases of state-owned companies will be renewed automatically without going through the auction process.

NMDC, was embroiled legal battle with Karnataka government over Donimalai mine in the state after the local government decided to levy a premium of 80 per cent on the sale value of the mineral, extracted from

Topics : NMDC iron ore miners

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in