Mining Industries Correspondent
Krishna's Feed
Jun 4, 2014

India’s NMDC ups iron ore prices after Odisha mine closures

NEW DELHI, June 4 (Reuters) – India’s biggest iron ore
producer NMDC Ltd has raised ore prices by up to 9
percent in June, two officials said on Wednesday, the first
increase in five months as supply has been cut by a temporary
ban on some mines in Odisha state.

The price hike will add to the problems of steelmakers such
as JSW Steel Ltd, which has been forced to try out
low-quality ore from Goa state to cope with lower supply of
higher grades from Odisha.

May 23, 2014

Odisha to renew some iron ore mining licences in about two months

NEW DELHI/BHUBANESWAR (Reuters) – India’s top iron ore producing state Odisha will renew in about two months licences of 10 of the 26 mines that were shut by the Supreme Court last week, a government official said, allaying fears of steelmakers the shutdown would lead to heavy imports.

The top court had ordered the closure of nearly half of the 56 mines in Odisha due to non-renewal of years-old leases. The closed mines accounted for about half of the state’s output of more than 70 million tonnes last fiscal year.

May 23, 2014

India’s Odisha to renew some iron ore mining licences in about 2 months

NEW DELHI/BHUBANESWAR, May 23 (Reuters) – India’s top iron
ore producing state Odisha will renew in about two months
licences of 10 of the 26 mines that were shut by the Supreme
Court last week, a government official said, allaying fears of
steelmakers the shutdown would lead to heavy imports.

The top court had ordered the closure of nearly half of the
56 mines in Odisha due to non-renewal of years-old leases. The
closed mines accounted for about half of the state’s output of
more than 70 million tonnes last fiscal year.

May 22, 2014

Coal India shares hit near three-year high as Modi explores breakup

NEW DELHI/MUMBAI (Reuters) – Coal India Ltd shares jumped to a near three-year high on Thursday after Reuters reported that prime minister-designate Narendra Modi was exploring an overhaul of the state behemoth, a step that an investor said would unlock more value in the firm.

One of Modi’s key election planks was to step-up supply of power, more than half of which is generated by coal. But red tape, protests against land acquisition and delays in obtaining environmental approvals have kept output far below demand.

May 21, 2014

Modi exploring breakup of Coal India, opening up sector-sources

NEW DELHI, May 21 (Reuters) – Newly elected Indian premier
Narendra Modi is exploring breaking up state behemoth Coal India
Ltd and opening up the sector to foreign investment to
boost output and cut imports, said two sources with knowledge of
the matter.

Red tape, strikes, protests against land acquisition and
delays in obtaining environmental approvals have kept coal
output far below demand, making India the world’s No.3 importer
even though it sits on the fifth-largest reserves.

May 19, 2014

JSW Steel tries out low-quality iron ore from Goa

NEW DELHI (Reuters) – JSW Steel Ltd(JSTL.NS: Quote, Profile, Research) has bought 11,484 tonnes of low-quality iron ore from Goa, government data showed, a sign that steelmakers are exploring other options after the temporary closure of some mines in Odisha.

Goa has traditionally exported most of its iron ore to China as local steel mills preferred using higher-quality ores. Mining bans in some states, however, have forced them to use grades with less iron, which might now help them cope with the mine closures in top iron-ore producer Odisha.

May 19, 2014

India’s JSW Steel tries out low-quality iron ore from Goa

NEW DELHI, May 19 (Reuters) – India’s JSW Steel Ltd
has bought 11,484 tonnes of low-quality iron ore from
Goa, government data showed, a sign that steelmakers are
exploring other options after the temporary closure of some
mines in the state of Odisha.

Goa has traditionally exported most of its iron ore to China
as local steel mills preferred using higher-quality ores. Mining
bans in some states, however, have forced them to use grades
with less iron, which might now help them cope with the mine
closures in top iron-ore producer Odisha.

May 16, 2014

Supreme Court orders temporary closure of some Odisha iron ore mines

NEW DELHI/BHUBANESWAR (Reuters) – The Supreme Court ordered on Friday the temporary closure of nearly half of the iron ore mines in top producing state Odisha due to non-renewal of years-old leases, in a blow to local steel mills that depend heavily on high-quality ore from the state.

Odisha, which allows exports of only half of total iron ore output, produced more than 70 million tonnes in the last fiscal year from 56 operating mines.

May 16, 2014

India court orders temporary closure of some Odisha iron ore mines

NEW DELHI/BHUBANESWAR, May 16 (Reuters) – India’s Supreme
Court ordered on Friday the temporary closure of nearly half of
the iron ore mines in top producing state Odisha due to
non-renewal of years-old leases, in a blow to local steel mills
that depend heavily on high-quality ore from the state.

Odisha, which allows exports of only half of total iron ore
output, produced more than 70 million tonnes in the last fiscal
year from 56 operating mines.

May 9, 2014

Narendra Modi’s manufacturing push cheers steel makers

NEW DELHI (Reuters) – When prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer.

For steel executives, it was just what they wanted to hear: their calls to restrict exports of iron ore further will be met if Modi’s Bharatiya Janata Party (BJP) wins the election.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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