Country must fix iron ore pricing mechanism: Dilip Oommen of AM/NS India

In a Q&A, the CEO of the firm calls for the launch of the National Mineral Index for Steel, which he says has been delayed

Early 2020, ArcelorMittal India won the Thakurani iron ore mine in Odisha by agreeing to pay a 107.55 per cent premium. The mine was to meet requirements of ArcelorMittal Nippon Steel India (AM/NS India), but as it charts out major expansion plans, Dilip Oommen, chief executive officer, AM/NS India, tells Ishita Ayan Dutt that for future raw material securitisation, it will only go with fair premiums. Edited excerpts:

ArcelorMittal Nippon Steel India has laid out a plan of increasing steelmaking capacity to 30 million tonnes. What is the timeline for achieving the target?

The groundbreaking for downstream has been done