There is challenge to cut cost by raising efficiency bar: Sesa Goa CEO

Merchant producers of iron ore are at all times price-takers, not price-givers, says Kishore Kumar

To prepare the Indian iron ore industry to meet the feedstock requirements of a 300-million tonne (mt) steel capacity projected for 2030, it is essential to speed up the process of auctioning new deposits, says Kishore Kumar, CEO of Sesa Goa, in an interview with Kunal Bose. Edited excerpts:
 
India is targeting a steel capacity of 300 million tonnes (mt) by 2030. In order to use that capacity, steel producers will need 480 mt of iron ore against the estimated production of 180 mt in 2016-17. How will the iron ore industry prepare to meet this big future local