India: NMDC Cuts Base Price for Karnataka Iron Ore E-auctions

NMDC has decreased fines (Fe 63%) base price from Kumaraswamy mines by INR 144/MT to INR 2,540/MT (basic) against last assessment INR 2,684/MT. Similarly, for Fe 63.8% lump prices have decreased by INR 146/MT to INR 3,030/MT (basic) against last assessment INR 3,176/MT. All prices mentioned are basic, royalty and other taxes extra. Iron ore operations are still on hold at NMDC’s Donimalai mine, which was renewed lease on 3rd Nov’18 for the next 20 years. But the State Govt. put the additional condition to pay 80% premium on iron ore sale value from Donimalai to the Karnataka state Govt. NMDC was in negotiation with the Govt of Karnataka over its decision to impose an 80% premium on iron ore sales from Donimalai. As the company’s earlier license did not include the premium. NMDC Donimalai has EC limit of 7 MnT p.a. and produces around 6-6.5 MnT iron ore annually. NMDC cuts pellet offers in Karnataka NMDC has also reduced base price for pellets offered from its Donimalai plant in Karnataka. Current offers are at INR 6,900/MT (GST extra) on FoT basis for Fe 64% pellets for a quantity of 15,000 MT on advance payment basis. The price validity is till 15 Apr'19. NMDC's last pellet offers were at INR 7,000/MT on FoT basis. source: SteelMint

India: NMDC Cuts Base Price for Karnataka Iron Ore E-auctions

NMDC cuts pellet offers in Karnataka

Copper slips as US data stokes worries about rate-cut policy

El Salvador sitting on $3 trillion worth of unmined gold, president says

Gold price could extend record run into 2025, Heraeus says

Trump tariff risk roils gold and silver as New York prices jump

Rio Tinto’s $2.5 billion lithium plan is a win for Milei

Copper price jumps on China policy, but we’ve been here before

Zimbabwe wants 26% free-carry stake in new mining projects

Glencore ties up with Cyclic Materials in copper recycling push

Lithium supply surplus set to stay with battery makers’ help

China tightens rules to curb methane emissions from coal mines

Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant

Arcadium Lithium investors sue miner over Rio Tinto takeover

Skeena advances Eskay Creek permitting, unlocks Orion funding

US foreign investment panel split on Nippon-US Steel deal

Norge Mining acquires Europe’s largest natural graphite producer

Australia’s CEFC invests $75m in homegrown critical minerals

Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade

Mobarakeh steel is producing green steel through scrap recycling

BHP seeks Brazil growth to emerge from shadow of mining disaster

Norilsk Nickel plans to sell all it produces in 2025