Bhushan Power & Steel: Iron Ore Sourcing Down 32% in Jan'19
Bhushan Power & Steel - a major integrated steel maker with a capacity of 3.5 MnT has recorded iron ore sourcing at 0.22 MnT in Jan'19. The sourcing witnessed drop of 32% on monthly basis as against 0.33 MnT a month ago.
In FY'19 (Apr-Jan'19) the company's total sourcing witnessed at 2.88 MnT, with largest supplier being Rungta mines at 0.82 MnT.
Sourcing from Rungta mines decreased sharply in Jan'19
Bhushan Power & Steel's iron ore sourcing from Rungta mines recorded at 0.06 MnT for the month, down 57% on monthly basis as against 0.13 MnT in Dec'18.
Essel mining supplies recorded at 0.12 MnT, up 7% against 0.11 MnT in last month.
Serajuddin mines supplies dropped to nil in Jan'19, as compared to 14,850 MT in Dec'18.
State owned miner- OMC mines recorded 35% fall at 0.04 MnT in Jan'19 as against being 0.07 MnT a month before.
Bhushan Power & Steel NCLAT Case Update
Bhushan Power and Steel is one of the companies undergoing bankruptcy proceedings.
As per the latest updates, JSW Steel is declared as the winning bidder for Bhushan Power and Steel (BPSL) after the Committee of Creditors (CoC) sent a letter of intent (LoI) to the Sajjan Jindal-owned JSW Steel.
After JSW Steel accepts the LoI, the resolution professional will submit JSW Steel's plan to the National Company Law Tribunal (NCLT) for its approval and with NCLT's approval, the year-long battle between JSW Steel and Tata Steel to acquire BPSL will come to an end.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Mercuria eyes equity in African assets, new metals boss says
Glencore posts lower metals output for first nine months, reiterates outlook
Gold price surge adds glitter to tarnished miners
Traders see gold as a surefire bet as coin-toss election looms
Anglo American sells Australian coal JV stake for $1.1 billion
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years