Iron Ore Mining

Moil faces Rs 16.77 crore penalty for excess production, plans to appeal

Penalty relates to excess production at the company's Tirodi Mine beyond the environmental clearance and consent to operate limits during the periods FY94 to FY96 and FY07 to FY09

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 starts all-women shift at Jharkhand's Noamundi iron mine

The shift will comprise women employees for all the mining activities of the shift, including heavy earth-moving machinery

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

Revenue implication of Rs 4,162 cr as Odisha's iron-ore grade declined: CAG

The Comptroller and Auditor General of India (CAG) which conducted an audit of six iron-ore mines in Odisha has observed that after the auction of the selected mines, there was an "abrupt and abnormal decline in the grade of iron-ore and its classification", as reported by new lessees. "The decline of grade of iron ore has resulted in a revenue implication of approximately Rs 4,162.77 crore for the financial years 2020-21 and 2021-22 in the form of lesser royalty and premium (post auction)", the CAG said in its report No 6 of the year 2024, which was laid before the Odisha Assembly on Wednesday. Though more than 83 per cent production was reported in the grade of 62-65 per cent Fe (iron) in the pre-auction period, the same came down to approximately 16 per cent in the two years after auction (2020-2022), it said. Similarly, the auditor said, the share of grades 60 per cent Fe and below went up from approximately 11 per cent of total production to more than 60 per cent of total ...

Iron ore price recovery, steady demand positive for state owned NMDC

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

Govt mulls export tax on low-grade iron ore amid call to curb overseas sale

Indian iron ore exports touched 32.2 million metric tons during the first nine months of the current fiscal year that began in April 2023 - worth $2.7 billion - from 9.5 million tons a year ago

Chhattisgarh: 2 killed, 1 injured in IED blast at mine in Narayanpur

Two workers were killed and another sustained injuries after a pressure improvised explosive device (IED) planted by Naxalites went off at an iron ore mine site in Chhattisgarh's Narayanpur district on Friday, police said. The incident took place around 7.30 am when the three workers were heading for work in Aamdai Ghati iron ore mine on a hill under Chhote Dongar police station limits, located around 350 km away from state capital Raipur, a senior police official said. Jayaswal Neco Industries Limited (JNIL) has been allotted the iron ore mine in Aamdai Ghati and Naxalites have been opposing the project for a long time. Prime facie, the workers came in contact with the pressure IED connection triggering the blast, he said. The deceased were identified as Ritesh Gagda (21) and Shravan Gagda (24), residents of Narayanpur district, he added. The body of Shravan who was reported to be missing after the explosion, was found at the blast site, he said. The injured worker, Umesh Rana,

Goa govt completes first phase of auction of iron ore mining blocks

The Goa government has completed the first phase of auction of mining blocks with four companies winning bids for the extraction of ore from different mineral rich stretches of the coastal state, an official said on Thursday. The state Directorate of Mines and Geology (DMG) had conducted the e-auctioning process which will pave way for the resumption of the state's iron ore mining industry in the state. The industry, which used to be one of the major revenue earners for the state, had come to a standstill in 2018 after the Supreme Court quashed 88 mining leases. The first phase of auctioning of the mining blocks has been completed. All the four blocks are assigned to the successful bidders, a senior DMG official told PTI. He said Vedanta Limited had won the bid for Bicholim-Mulgao mining block (North Goa) which has got more than 84 million tonnes of the iron ore reserve. Salgaocar Shipping Company Pvt Ltd won the bid for Shirigao-Mayem mineral Block in North Goa. The mine has more

Goa CM welcomes decision to abolish export duty on low grade iron ore

Goa Chief Minister Pramod Sawant on Saturday welcomed the Centre's decision to abolish export duty on low grade iron ore, citing that the move will give a boost to the mining sector and fetch higher revenue for the state government. Taking to Twitter, Sawant thanked the Union government for considering the state's request to levy nil export duty on low grade iron ore. I thank the Union Govt led by Hon'ble PM Shri @narendramodi Ji for considering our request for levying nil export duty on below 58 Fe Iron Ore. My gratitude to the FM @nsitharaman Ji for the withdrawal of export duty that will give a boost to the mining sector and Goa's economy," the chief minister tweeted. In another tweet, Sawant thanked Union Home Minister Amit Shah stating that the move will fetch higher revenues for the state government during auctioning of mining leases. This will also propel the export of low grade iron ore from Goa, giving relief to various segments in the iron ore business and allied activiti

Can't allow in toto: SC rejects CEC advice for lifting Karnataka mining cap

Bench added that situation merits a cautious approach, keeping in view concerns raised and to ensure that any changes in situation with respect to Karnataka mining activity is brought about gradually

SC raises ceiling limit of iron ore mining for three Karnataka districts

The Supreme Court on Friday raised the ceiling limit of iron ore mining for Ballari, Chitradurga, and Tumakuru districts in Karnataka, saying conservation of the ecology and environment must go hand in hand with the spirit of economic development. The apex court raised the ceiling limit of iron ore mining from 28 MMT to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts. "Conservation of the ecology and the environment must go hand in hand with the spirit of economic development and the fine balance between the two goals is what is sought to be achieved even now," a bench headed by Chief Justice N V Ramana said. The bench, also comprising Justices Hima Kohli and C T Ravikumar, passed the order on pleas seeking lifting of the ceiling limits of iron ore mining in these districts. It referred to the May 20 this year order passed by the apex court which had granted certain reliefs relating to the sale and export of iron ore in these three distric

NMDC hikes prices of iron ore lumps and fines by Rs 400 a tonne

The country's largest iron ore miner NMDC on Tuesday hiked the prices of lump ore and fines by Rs 400 a tonne each with immediate effect.

NMDC posts over 23% rise in iron ore output at 3.86 mn tonne in December

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

Iron ore may stay elevated with robust Chinese demand, supply disruptions

Since Feb 2020, when Covid-19 was at its peak in China, prices of international iron ore skyrocketed by over 75% to a seven-year high of over $150 a tonne

Selling few iron ore blocks infrequently creates artificial deficit: Jindal

Says people end up paying a huge premium and then the assets become unsustainable

NMDC Q2 profit grows 10% to Rs 773 cr on account of reduced expenses

State-owned NMDC on Tuesday posted over 10 per cent rise in consolidated net profit at Rs 772.53 crore for September quarter 2020-21, on account of reduced expenses.

Karnataka govt to resume iron ore mining at Donimalai after 2 years

Donimalai is rich in iron ore and was in the custody of state-owned NMDC for 50 years when its lease period ended in 2018

ArcelorMittal to invest Rs 2,000 cr in Odisha, says Lakshmi Mittal

Mittal said, the company would work on the two iron ore mines- Sagasahi and Thakurani in Odisha

NMDC slashes iron ore price by Rs 400/tonne in second cut in 40 days

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