Iron Ore

Govt unlikely to raise export duty soon on low-grade iron ore, pellets

The government has been considering raising the export duty to between 20 per cent and 30 per cent, from zero now

GCCI urges Centre not to impose export duty on low-grade iron ore

The Goa Chamber of Commerce and Industry (GCCI) has urged the Centre not to impose export duty on low-grade iron ore, claiming it would result in an annual revenue loss of more than Rs 800 crore from the existing production alone. Such a move would deal a major blow to Goa's mining sector, destabilise ongoing operations, undermine investor confidence and jeopardise thousands of livelihoods dependent on the industry, the GCCI said in a letter to Union Minister of Mines G Kishan Reddy. Appealing to the Centre to weigh Goa's "unique structural constraints," GCCI urged that the present NIL export duty regime for low-grade ores from Goa and the Konkan region be retained. "Such an approach will support local livelihoods, ensure sector viability, maintain fair trade practices, and avoid destabilising an already fragile industry," the chamber said. The apprehension, it said, stems from deliberations at a high-level stakeholders' meeting held on August 26 to boost iron ore and steel product

Trump offers regulatory relief for coal, iron ore and chemical industries

President Donald Trump is granting two years of regulatory relief to coal-fired power plants, chemical manufacturers and other polluting industries as he seeks to reverse Biden-era regulations he considers overly burdensome. Trump issued a series of proclamations late Thursday exempting a range of industries that he calls vital to national security. The proclamations cover coal-fired power plants, taconite iron ore processing facilities used to make steel, and chemical manufacturers that help produce semiconductors and medical device sterilisers. The proclamations allow the facilities to comply with Environmental Protection Agency standards that were in place before rules imposed in recent years by President Joe Biden's administration, the White House said. Trump called the Biden-era rules expensive and, in some cases, unattainable. His actions will ensure that "critical industries can continue to operate uninterrupted to support national security without incurring substantial cost

Iron ore imports likely to rise on JSW steel demand, falling prices

JSW Steel meets its iron ore requirements through a combination of captive mines and external purchases. It plans to add 1.5 million to 2 million tons of annual capacity at its Vijayanagar plant

Vedanta reports record alumina, ferro chrome output in Q1 FY26 results

Vedanta posts strong quarterly performance with record alumina and ferro chrome production, higher zinc output, and operational gains across key metals and power businesses

NMDC cuts iron ore lump price by ₹600 per tonne, fines by ₹500 per tonne

State-owned NMDC on Tuesday said it has slashed prices of iron ore lump and its fines by Rs 600 and Rs 500 per tonne, respectively, with immediate effect. It has fixed the price of lump ore at Rs 5,700 per tonne and fines at Rs 4,850 a tonne, the country's largest iron ore miner said in a regulatory filing. Lump ores or high-grade iron ores contain 65.5 per cent iron content, while fines are inferior-grade ores with 64 per cent or less iron content. In the last price revision announced on June 4, NMDC had fixed the rate of the lump at Rs 6,300 per tonne and that of fines at Rs 5,350 per tonne. The prices effective from July 1 are inclusive of royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET) and exclude cess, forest permit fee, transit fee, GST, environmental cess and other taxes. According to market research firm BigMint, "The domestic steel market remained under acute pressure, as prices continued on their downward trajectory. Throughout June, the r

India's iron ore production rises marginally to 53 mmt in April-May

Country's iron ore production rose marginally by 0.6 per cent to 53 million metric tonnes (MMT) in the April-May period of the ongoing fiscal. As per provisional data, production of iron ore was 52.7 MMT in the same period of the previous fiscal. The production of manganese ore, bauxite, zinc concentrate and limestone rose in the April-May period of the ongoing fiscal, the mines ministry said in a statement. In the non-ferrous metal sector, primary aluminium production in April-May grew by 1.3 per cent to 7.07 lakh tonnes (LT) from 6.98 LT in the year-ago period. During the same period, refined copper production has grown by 43.5 per cent from 0.69 LT to 0.99 LT. India is the second largest aluminium producer, among top ten producers in refined copper, and third largest iron ore producer in the world. Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry viz. steel. Coupled with growth in aluminium and

NMDC iron ore production rises 17.8% to 4.62 mn tonnes in February

State-owned NMDC on Saturday said that it has registered a 17.8 per cent increase in iron ore production at 4.62 million tonnes (MT) in February. The company had produced 3.92 MT of iron ore in the corresponding month of previous fiscal year, NMDC said in a filing to BSE. The company said that the figures are provisional. The iron ore production in the April-February period rose to 40.49 MT over 40.24 MT in the year-ago period, the filing said. The sale of iron ore in February was at 3.98 MT, over 3.99 MT in February last fiscal. Hyderabad-based NMDC, under Ministry of Steel, is the country's largest iron ore mining company. The PSU alone caters around 20 per cent to the country's demand for the key steel-making raw material. Since inception, the company has been involved in the exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country.

India's port cargo rises 3.2% in December on higher container volumes

FY25 cargo sailing slow at 2.7 per cent growth

Iron structure collapses in Odisha cement plant, workers feared trapped

Some workers were suspected to have been trapped under the debris after a coal hopper, a big iron structure, collapsed inside a cement factory at Rajgangpur in Odisha's Sundargarh district on Thursday, police said. The incident occurred in the factory when over a dozen labourers were working near the site, a senior officer said. After getting information, local police rushed to the spot and helped remove the debris. The coal hopper suddenly fell down. We are at the spot now. The debris is being removed with the help of cranes. So far no casualty or injury has been reported. But, we suspect that some workers might have been trapped inside the debris as labourers usually work under the structure, Rajgangpur Police Station inspector-in-charge Manaranjan Pradhan told PTI. Soon after the incident, workers and family members of those who were working at the site gathered outside the plant. The family members of some workers alleged that the labourers were not responding to their ...

Iron ore production rises 3% in Apr-Nov period to 182.6 mn tonnes

The country's iron ore production rose by 3 per cent to 182.6 million tonnes (MT) in the April-November period of the current fiscal. India's iron ore output was 177.2 MT in the year-ago period, according to the provisional data. The mines ministry in a statement said that the country's manganese ore output rose by 9.5 per cent to 2.3 MT in April- November period over 2.1 MT during the corresponding period of the previous fiscal year. Production of chromite rose to 2 MT over 1.8 MT in the year-ago period. The production of bauxite also rose by 8.9 per cent to 15.9 MT in April- November period over 14.6 MT in the corresponding month of the previous fiscal. "In the non-ferrous metal sector, primary aluminium production in FY 2024-25 (April-November) posted a growth of 1.1 per cent over the corresponding period last year, increasing to 27.91 lakh tonnes (LT) in FY 2024-25 (April-November) from 27.60 LT in FY 2023-24 (April-November)," the mines ministry said. India is the second-larg

NMDC Group achieves net profit of AED 2.2 bn in first 9 months of 2024

The strong performance for the nine-month period ending September 30 2024 was underpinned by a healthy project pipeline

Govt asks major steel companies to use iron ore fines also for steel making

To increase the usage of available raw materials, the Ministry of Steel has directed integrated steel players to make use of iron ore fines in steel making after its beneficiation. As per sources, the ministry has also suggested that players look at options like acquiring coking coal mines abroad. This is aimed at increasing the availability of raw materials at competitive prices, they said. "It has been conveyed to them that iron reserves are limited in the country and to preserve that, players must also use low grade ore through beneficiation process. They can also look for coking coal mines outside India," the sources said. Iron ore and coking coal are the two key raw materials used for manufacturing steel through blast furnace route. While iron ore is available in abundance, for coking coal, India remains heavily dependent on imports. Major players use only high grade ore (lumps), with 65 per cent and above iron content, to make steel through BF (blast furnace). Fines are low

India's iron ore output rises 7.4% to 116 million tonnes in April-August

The production of iron ore and manganese ore witnessed a growth during the April-August period of the ongoing fiscal. The output of iron ore rose by 7.4 per cent to 116 million tonnes (MT) during the said period compared to 108 MT registered in the corresponding period of previous fiscal, according to a provisional data released by the mines ministry. The production of manganese ore jumped by 15.4 per cent to 1.5 MT during the April-August period as compared to 1.3 MT in the previous financial year, the ministry said in a statement. Iron ore accounts for about 70 per cent of the total mineral production in terms of value. In the non-ferrous metal sector, primary aluminium production rose to 17.49 lakh tonnes (LT) during April-August from 17.26 LT in the year-ago period. "During the same comparative period, refined copper production has grown by 5.8 per cent from 1.91 LT to 2.02 LT," the ministry said. India is the second largest aluminium producer, among top 10 producer of refine

NMDC's best results as iron ore output up 10% in FY24; sales rise 16%: CMD

NMDC posted "best-ever yearly performance" in FY24 with iron ore production rising 10 per cent to cross 45 million tonnes and sales going up 16 per cent to touch 44.48 million tonnes mark, the company's CMD Amitava Mukherjee said on Tuesday. The nation has witnessed strong growth of 7 per cent year-on-year in iron ore output, with production increasing from 257 million tonnes in FY23 to an impressive 275 million tonnes in FY24, the CMD said while addressing NMDC's 66th Annual General Meeting (AGM). "I am delighted to share that NMDC has played a significant role in this achievement, securing a commendable 16 per cent market share. FY24, NMDC registered its best ever yearly physical performance as it produced 45.02 million tonnes and sold 44.48 million tonnes of iron ore," he said. The company recorded a 10 per cent growth in production and 16 per cent growth in sales compared to FY23 volumes, Mukherjee said. The performance translated into a strong financial performance earning a .

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.

Vedanta reports rise in production of aluminium, iron ore, zinc in Q1

Mining giant Vedanta Ltd on Wednesday reported a rise in production of aluminium, zinc, iron ore and steel in the June quarter. However, the production of mined metal at overseas and oil and gas dropped during the quarter. In a filing to the BSE, the company said the aluminium output grew 3 per cent to 5,96,000 tonnes in the first quarter over the year-ago period, Vedanta said in a filing to BSE. At Zinc India, the saleable metal output grew to 2,62,000 tonnes over 2,60,000 tones. While at Zinc International the mined metal output dropped to 38,000 tonnes, over 68,000 tonnes in the first quarter of FY24. Meanwhile, oil and gas output dropped 17 per cent to 112,400 average daily gross operated production (boepd) during the quarter from 134,900 boepd a year earlier. The production of saleable iron ore rose to 1.3 million tonnes over 1.2 million tonnes in the year-ago period. The total saleable steel production rose 10 per cent to 3,56,000 tonnes and power sales rose 13 per cent to

Production of iron ore increases 4% to 26 million tonnes in April

The production of iron ore increased 4 per cent to 26 million tonnes (MT) and the output of limestone also went up marginally by 2.1 per cent to 39.3 million tonnes in April. Iron ore and limestone together account for about 80 per cent of the total mineral production by value. In the first month of 2024-25, there is a steady increase in the production of these minerals as compared to the production in the corresponding month last year, the mines ministry said in a statement. Production of iron ore has increased from 25 million tonnes during April 2023 to 26 million tonnes during April 2024, registering a growth of 4 per cent. Production of limestone has increased from 38.5 MT during April 2023 to 39.3 MT in April 2024. The production of aluminium during April rose 1 per cent to 3.42 lakh tonnes (LT) over 3.39 LT production during April last fiscal. "Continued growth in production of iron ore and limestone in the current financial year reflects the robust demand conditions in the

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

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