Iron Ore Miners

NMDC struggles to achieve target as Chhattisgarh trade unions go on strike

The production at the country's largest iron ore miner has been severely affected. In the last four days, the output has come down by over 60 per cent

Supreme Court dismisses Vedanta's plea against Goa iron ore mine e-auction

Following the Supreme Court's dismissal of Vedanta's plea, the Goa government is now set to proceed with the fresh e-auction process for the mineral block

Risky bet: Mining fatalities decline, but safety remains elusive

In recent years, the number of fatalities has come down as the government has cracked down on illegal rat hole mining

Karnataka's iron ore duty plans weigh on NMDC; share price plunges 7%

The decline in NMDC share followed reports suggesting that the Karnataka government is considering an increase in the duty on iron ore

Tata Steel engages with NMDC, OMC to secure iron ore needs for future

Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its domestic steel manufacturing capacity. Tata Steel will also operationalise two new iron mines namely Kalamang West and Gandalpada as part of its strategy to ensure raw material security, the company's Vice President, Raw Material, D B Sundara Ramam told PTI. At present, Tata Steel meets its entire demand for iron ore, a key raw material used for manufacturing steel, from six iron ore mines operated by the company in Odisha and Jharkhand. Ramam said raw material plan has been carved out as leases of four mines -- Noamundi iron ore mine (being operated since 1925), Katamati and Khondbond (since 1933) and Joda East (1956) -- are expiring in March 2030. While two other mines NINL (Mithirda) and Vijay II will continue to remain operational. The mines came along acquisition of NINL plant and Usha Martin's steel business, he .

Iron ore climbs to over 2 week high on prospects of more China stimulus

The benchmark December iron ore on the Singapore Exchange added 1.09% at $105.05 a ton, as of 0711 GMT, also the highest since Oct. 17

Production of iron ore, manganese ore, primary aluminium rises in H1FY25

The production of iron ore, manganese ore and primary aluminium increased in the first six months of the ongoing financial year, government data showed. As per provisional data, production of iron ore rose 5.5 per cent to 135 million tonne (MT) in April-September FY25 over 128 MT in the year-ago period. Output of manganese ore increased by 6.2 per cent to 1.7 MT in April-September from 1.6 MT during the corresponding period of previous fiscal year, the mines ministry said in a statement. In the non-ferrous metal sector, primary aluminium production in April-September rose by 1.2 per cent to 20.90 lakh tonne (LT) from 20.66 LT in the year-ago period. "During the same comparative period, refined copper production has grown by 4.6 per cent from 2.39 LT to 2.50 LT," the ministry said. Iron ore accounts for about 70 per cent of the total mineral production by value. Production of iron ore was 274 million tonne in 2023-24. Continued growth in production of iron ore in the current finan

NMDC looking to explore mining opportunities for critical minerals abroad

The country's largest iron ore miner NMDC on Thursday said it is pursuing mining opportunities for critical minerals abroad which includes lithium block in Australia. Critical minerals such as copper, lithium, nickel and cobalt are important components in rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles. "NMDC is... pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel through its subsidiary, Legacy India Iron Ore Ltd, which includes lithium mining operations in Australia," the company said in a statement. NMDC is also preparing to begin the production of its eight million tonnes of coking coal block by December next year. This move aims to reduce the country's reliance on the import of coking coal. NMDC is set to nearly double its production capacity to 100 million tonnes (MT) by 2030. This ambitious expansion will significantly enhance the company's infrastructure, operations, an

Centre asks Telangana govt to auction at least six mineral blocks by Jun 30

The mines ministry has flagged that the Telangana government failed to auction any mineral blocks in past nine years and asked the state to put at least six mines on sale by the end of this month. According to sources, geological reports of eleven blocks have been handed over to the government of Telangana for auction. These blocks consist of five iron ore mines, five limestone blocks and one manganese block. Till date not even a single block has been put up for auction by Telangana even though the mines ministry has sent repeated reminders to the state government. The process of allocating mineral blocks through auctions began in 2015. In a recent letter to the Telangana government, the mines ministry asked the state to notify a minimum of six blocks from the 11 for auction by June 30, sources said. The ministry warned that failure to do so will force the Centre to begin the auction process. As per the amendment in mining rules made in 2021, the Centre has the power to put on sa

China's 2024 iron ore imports seen to be around 1.17-1.18 bn metric tons

China's iron ore imports in the first quarter of 2024 totalled 310.13 million tons, up 5.5 per cent from a year earlier, customs data showed

Jindal Steel & Power takes on ops at Venezuela's largest iron-ore mill

Jindal officials are carrying out inspections at iron-ore plants of CVG Ferrominera Orinoco, according to two people familiar with the process, who asked not to be named as information isn't public

India rejects iron ore miner NMDC's proposal for China exports -sources

China accounts for around 80% of India's overall iron ore shipments. India primarily exports low-grade iron ore - with iron content below 58% and most of India's shipments go to China

Mineral output rises 13.1% in Oct, 9.4% growth in Apr-Oct period: Govt

India's mineral production went up 13.1 per cent in October 2023, over the same month a year ago, the government said on Monday. The index of mineral production of the mining and quarrying sector for October was 127.4, 13.1 per cent higher than October 2022, as per the provisional figures of Indian Bureau of Mines (IBM). The cumulative growth for the April-October period of the current fiscal over that of the year-ago period is 9.4 per cent. The minerals that showed positive growth in October included iron ore, manganese ore, gold, and coal. Important minerals showing negative growth included lignite, copper conc, and bauxite.

Stock of this iron & steel company has zoomed over 1,000% since April

In the month of July, the stock price of Jai Balaji Industries more than doubled, zooming 106 per cent. Besides it has gained 74 per cent in August and 61 per cent in September.

JSW Steel declared preferred bidder for Karnataka's iron ore mine

JSW Steel on Wednesday said it has emerged as the preferred bidder for the Jaisinghpura North Block iron ore mine in Karnataka. JSW Steel has received a communication from the Karnataka government in this regard, the company informed the exchanges. "The Company has been declared as a preferred bidder vide communication dated October 11, 2023, received from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on August 2, 2023," the filing said. The highest final offer price by the company to become a "Preferred Bidder" is 150.3 per cent of the value of the mineral dispatched. The projected iron ore resource is 17.66 in MMT (metric million tonnes). The company will take all requisite steps as per the tender document to obtain a letter of intent, and all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA), and start the mining operations. Part of JSW Gr

NMDC's low-grade iron ore export to China hindered by logistics: Report

Indian producers of low-grade ores largely depend on foreign markets because most major domestic steel producers use high-grade iron ores

Essar signs deal with Vale to get raw material supply for Saudi steel plant

Complete raw material supply of iron ore feed for project secured, says Indian firm

NMDC's consolidated net profit grows 13% to Rs 1,661 cr in June quarter

Iron ore company NMDC on Friday posted a 13 per cent rise in its consolidated net profit to Rs 1,661.04 crore in the April-June quarter, boosted by higher income. It had clocked a net profit of Rs 1,471.24 crore in the April-June period of the 2022-23 fiscal, the company said in a regulatory filing. The company's total income surged to Rs 5,688.87 crore from Rs 4,913.06 crore in the year-ago quarter. Total expenses also grew to Rs 3,476.55 crore as compared to Rs 2,968.94 crore a year ago. Hyderabad-based NMDC, under the Ministry of Steel, is the country's largest iron ore mining company.

Iron ore miner NMDC plans $61 mn investment to foray into gold mining

NMDC is "on track" to secure a lease for the Chigargunta-Bisanatham gold block soon, having signed a letter of intent over the project with the state government late last year

Vedanta deploys Volvo electric off-road machines at its iron ore mines

Vedanta Iron Ore Karnataka (IOK) will deploy Volvo's electric off-road machines at its mines in Chitradurga on a trial basis