Iron Ore Miners

Centre asks Telangana govt to auction at least six mineral blocks by Jun 30

The mines ministry has flagged that the Telangana government failed to auction any mineral blocks in past nine years and asked the state to put at least six mines on sale by the end of this month. According to sources, geological reports of eleven blocks have been handed over to the government of Telangana for auction. These blocks consist of five iron ore mines, five limestone blocks and one manganese block. Till date not even a single block has been put up for auction by Telangana even though the mines ministry has sent repeated reminders to the state government. The process of allocating mineral blocks through auctions began in 2015. In a recent letter to the Telangana government, the mines ministry asked the state to notify a minimum of six blocks from the 11 for auction by June 30, sources said. The ministry warned that failure to do so will force the Centre to begin the auction process. As per the amendment in mining rules made in 2021, the Centre has the power to put on sa

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

Jindal Steel & Power takes on ops at Venezuela's largest iron-ore mill

Jindal officials are carrying out inspections at iron-ore plants of CVG Ferrominera Orinoco, according to two people familiar with the process, who asked not to be named as information isn't public

India rejects iron ore miner NMDC's proposal for China exports -sources

China accounts for around 80% of India's overall iron ore shipments. India primarily exports low-grade iron ore - with iron content below 58% and most of India's shipments go to China

Mineral output rises 13.1% in Oct, 9.4% growth in Apr-Oct period: Govt

India's mineral production went up 13.1 per cent in October 2023, over the same month a year ago, the government said on Monday. The index of mineral production of the mining and quarrying sector for October was 127.4, 13.1 per cent higher than October 2022, as per the provisional figures of Indian Bureau of Mines (IBM). The cumulative growth for the April-October period of the current fiscal over that of the year-ago period is 9.4 per cent. The minerals that showed positive growth in October included iron ore, manganese ore, gold, and coal. Important minerals showing negative growth included lignite, copper conc, and bauxite.

Stock of this iron & steel company has zoomed over 1,000% since April

In the month of July, the stock price of Jai Balaji Industries more than doubled, zooming 106 per cent. Besides it has gained 74 per cent in August and 61 per cent in September.

JSW Steel declared preferred bidder for Karnataka's iron ore mine

JSW Steel on Wednesday said it has emerged as the preferred bidder for the Jaisinghpura North Block iron ore mine in Karnataka. JSW Steel has received a communication from the Karnataka government in this regard, the company informed the exchanges. "The Company has been declared as a preferred bidder vide communication dated October 11, 2023, received from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on August 2, 2023," the filing said. The highest final offer price by the company to become a "Preferred Bidder" is 150.3 per cent of the value of the mineral dispatched. The projected iron ore resource is 17.66 in MMT (metric million tonnes). The company will take all requisite steps as per the tender document to obtain a letter of intent, and all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA), and start the mining operations. Part of JSW Gr

NMDC's low-grade iron ore export to China hindered by logistics: Report

Indian producers of low-grade ores largely depend on foreign markets because most major domestic steel producers use high-grade iron ores

Essar signs deal with Vale to get raw material supply for Saudi steel plant

Complete raw material supply of iron ore feed for project secured, says Indian firm

NMDC's consolidated net profit grows 13% to Rs 1,661 cr in June quarter

Iron ore company NMDC on Friday posted a 13 per cent rise in its consolidated net profit to Rs 1,661.04 crore in the April-June quarter, boosted by higher income. It had clocked a net profit of Rs 1,471.24 crore in the April-June period of the 2022-23 fiscal, the company said in a regulatory filing. The company's total income surged to Rs 5,688.87 crore from Rs 4,913.06 crore in the year-ago quarter. Total expenses also grew to Rs 3,476.55 crore as compared to Rs 2,968.94 crore a year ago. Hyderabad-based NMDC, under the Ministry of Steel, is the country's largest iron ore mining company.

Iron ore miner NMDC plans $61 mn investment to foray into gold mining

NMDC is "on track" to secure a lease for the Chigargunta-Bisanatham gold block soon, having signed a letter of intent over the project with the state government late last year

Vedanta deploys Volvo electric off-road machines at its iron ore mines

Vedanta Iron Ore Karnataka (IOK) will deploy Volvo's electric off-road machines at its mines in Chitradurga on a trial basis

MOIL reports production of 402,000 tonnes of manganese ore in Q4FY22

The company plans to increase production by double-digits, signifying growth for the mining sector and the country's overall mineral resource development

Goa govt to auction 5 more iron ore mining blocks located in North Goa

The Goa government has started the process of auctioning five more iron ore mining blocks, all located in North Goa district, a senior official said. The state Directorate of Mines and Geology (DMG) had last month conducted the e-auctioning of four iron ore blocks, with an aim to 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. "In the second phase, bids have been invited for the auctioning of Advalpale-Tivim Mineral Block, Cudnem-Cormolem Mineral Block, Cudem Mineral Block, Tivim-Pirna Mineral Block and Surla-Sonshi Mineral Block, the official from the DMG said on Tuesday. The last date for the submission of bids is March 27, 2023, he said. The e-auctioning of the leases would be held through the Metal Scrap Trading Corporation (MSTC).

Vedanta emerges as successful bidder for Bicholim mining block in Goa

In a development paving the way for resumption of iron ore mining in Goa, the state government announced on Wednesday that Vedanta Limited has emerged as successful bidder for a mining block auctioned earlier this year. Chief Minister Pramod Sawant told reporters that Vedanta was the highest bidder with 63.55 per cent revenue for Bicholim Mining Block, spread over 485 hectares. The state government had started the process to auction four mining blocks in the state including the Bicholim one earlier this year. The existing block was being operated by Vedanta itself before iron ore mining was stopped in the coastal state on the Supreme Court's orders in 2012. As many as 51 tender documents had been taken for the four blocks and eleven companies finally submitted their bids, Sawant said. Five companies had submitted bids for Bicholim Block, he added. State Director of Mines and Geology Suresh Shabhogue said the successful bidders will have to obtain fresh approvals including ...

NMDC in talks to invest in lithium exploration companies in Australia

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

Sandur Manganese turns ex-date for rights issue; stock zooms 50% in 7 days

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.

NMDC to be excluded from Nifty CPSE index over move to hive off steel arm

NMDC shares drop 5.3%; ONGC, Coal India and Bharat Electronics likely to see inflows of $31-46 million on account of the rebalancing

Goa government to e-auction iron ore mining leases, says CM Sawant

Goa Chief Minister Pramod Sawant on Wednesday said the state government is geared up to take over 88 leases, whose renewal was cancelled by the Supreme Court in 2018

NMDC hikes lump ore rate by Rs 100 per tonne; Rs 200 for fines

In a regulatory filing, the company said it has fixed the prices of per tonne lump ore at Rs 6,100 and that of fines at Rs 5,160 a tonne