Iron Ore Production

India's iron ore production rises 4% to 158.4 mn tonnes in Apr-Oct

Iron ore production in the country rose 4.1 per cent to 158.4 million tonnes (MT) in the April-October period of the ongoing fiscal year, the government said on Thursday. As per provisional data, iron ore production was 152.1 MT in the year-ago period. Continued growth in production of iron ore in the current financial year shows the robust demand conditions in the user industry. Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery. Production of manganese ore rose 11.1 per cent to 2 MT in the April-October period of the ongoing fiscal year from 1.8 MT during the corresponding period last year. Production of bauxite rose 11.3 per cent to 13.8 MT in the April-October period from 12.4 MT in the year-ago period, the mines ministry said in a statement. In the non-ferrous metal sector, primary aluminium production grew 1.2 per cent to 24.4

NMDC reports 9.9% drop in iron ore production at 3.07 mn tonnes in August

Country's largest iron ore miner NMDC on Monday reported a 9.9 per cent drop in production of iron ore at 3.07 million tonnes (MT) in August. The company had produced 3.41 MT of iron ore in the corresponding month of the previous fiscal, NMDC said in a regulatory filing. The company's sales also declined to 3.14 million tonnes in August this year, from 3.54 MT in the corresponding month of previous fiscal. The company's cumulative iron ore output fell to 14.43 MT in April-August 2024, from 16.56 MT in the year-ago period. Sales dropped to 16.27 MT in April-August period, from 17.43 MT in the corresponding period of previous fiscal.

NMDC falls 2% on weak Q4 performance; Rs 7.25 dividend announced in FY24

The state-owned company's profit plunged 37.8 per cent to Rs 1,412.7 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 2,271.5 crore in Q4FY23

IMFA Q3 results: Profit climbs to Rs 109 cr, total income at Rs 695.02 cr

Indian Metals & Ferro Alloys Ltd (IMFA) has posted manifold jump in its consolidated net profit to Rs 108.95 crore in the December quarter, pushed by higher income. It had clocked a profit of Rs 11.04 crore in the October-December period of 2022-23 financial year, the company said in an exchange filing on Tuesday. The company's total income rose to Rs 695.02 crore over Rs 631.84 crore in the year ago quarter. Its expenses reduced to Rs 549.44 crore from Rs 605.61 crore in the third quarter a year ago. Subhrakant Panda, Managing Director, IMFA, said, "The third quarter earnings numbers are creditable in a difficult global environment where stainless steel demand has been muted and ferro chrome prices have softened, though costs have come down significantly too. The moderation in the Chinese economy has had an impact across the commodities spectrum but we do not expect any further downside." Bhubaneswar-based IMFA is a leading integrated producer of value added ferro chrome with ...

IITs Madras, Kanpur find way to recycle waste material from iron ore mining

Iron ore waste known as slime could be better used than discarded, say researchers

Centre plans to tweak iron ore sale price formula in India: Report

"Any reduction in the average sale price of iron ore through unscrupulous means will impact the revenue accruing to the govt on account of auction premium, royalty," the report said citing govt note

NMDC to spend Rs 900 cr to increase iron production from mines in Karnataka

NMDC Ltd will be spending nearly Rs 900 crore in the next two to three years to ramp up iron ore production from seven million tonnes per annum (MTPA) to 10 million tonnes, from its Kumaraswamy mines in Karnataka. An Expert Appraisal Committee under the Minister of Environment and Forests has given its green signal for Environmental Clearance in a meeting held during November 9-11 allowing NMDC to increase the production and the EC is valid up to 2042, company sources said. In August, the Supreme Court raised the ceiling limit of iron ore mining from 28 MMT ( million metric tonne) to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts in Karnataka. Kumaraswamy Mines are located in Ballari district. NMDC has EC for 7 MTPA and also is producing 7 million tonnes. On November 10, the Indian Bureau of Mines (IBM) recommended the company to go from 7 MTPA to 10 MTPA. There will be a crushing and screening and loading plant at the site. For all these

SC raises annual iron ore production limit for 3 districts in Karnataka

The Supreme Court on Friday raised the annual iron ore production limit for Ballari, Chitradurga and Tumakuru districts in Karnataka. A bench headed by Chief Justice N V Ramana raised the annual iron ore production limit from 7 MMT to 15 MMT for Chitradurga and Tumakuru districts. For Ballari, it raised the limit from 28 MMT to 35 MMT a year.

NMDC targets to achieve 46 MT of iron ore production this fiscal year

NMDC Ltd targets to achieve 46 million tonnes of Iron ore production in the current fiscal, 10 per cent higher than that of last year, Chairman and MD, Sumit Deb said

NMDC produces record 40 MT iron ore, aims 42 MT output in FY22

State-owned miner NMDC on Saturday announced that it has touched a record iron ore production of 40 million tonnes (MT) in this fiscal so far.

Rio Tinto agrees heritage protection plan for Australia iron ore project

In a statement, the company said the agreement, with the Yinhawangka Aboriginal Corporation (YAC), will ensure a new co-designed management plan protects social and cultural heritage values

Sponge iron sector might report negative growth due to coal crisis: SIMA

The domestic sponge iron industry might report a negative growth in the ongoing December quarter "if the shortage of coal is allowed to continue", according to apex industry body SIMA.

NMDC eyes 47 million tonne iron ore production in FY22

NMDC Ltd is aiming to achieve 47 million tonnes of iron ore production during the current financial year and plans to spend Rs 3,720 crore on capital expenditure

Global iron ore production growth to average 3.6% between 2021-25

India's ore output growth seen at 194 million tonnes in 2030, with annual output growth averaging 1.1%

Indian steel companies see long-term change as industry rally continues

DMarket has rising since November and even lockdowns for Covid-19 have not hurt demand, say executives.

After rally, steel and iron ore on course correction led by higher supplies

Price correction started mid Jan, with secondary producers dropping drop long product prices by Rs 7,000-8,000 a tonne; primary producers followed in Feb, pruning by Rs 2,000-3,500

Railways ministry nod to new iron ore policy, to come into effect in Feb

Higher priority given to movement of iron-ore traffic for domestic manufacturing

Hindustan Zinc Q2 profit dips 6.7% to Rs 1,940 cr due to higher expenses

The company had posted a net profit of Rs 2,081 crore in the year-ago period, HZL said in a filing to BSE

Iron ore prices surge, but export curbs play spoilsport for Indian firms

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

NMDC board okays demerger of three-mn-tonne Chhattisgarh steel plant

The plant is the only greenfield project slated for commissioning in the near term. Sources said it would have been commissioned by now had it not been for Covid-19