India: NMDC Iron Ore Production at 2.9 MnT in Apr'19
NMDC- India's largest iron ore mine production in Apr'19 recorded at 2.9 MnT down 28% as against 4.04 MnT in Mar'19. However on yearly basis production moved up up 20% as against 2.41 MnT in Apr'18. .
NMDC Apr'19 iron ore sales witnessed drop to 2.7 MnT as compared to 3.59 MnT in Mar'19. However, on yearly basis it has increased by 22% as against 2.22 MnT in Apr'18. NMDC had reduced prices for lumps and fines by INR 150/MT each at the beginning of April'19.
Iron ore operations are still on hold at NMDC's Donimalai mine, which had 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. The case was filed in the high court and both the side had kept their conclusive remark in the High Court. Judgement is still awaited, no date has been revealed.
NMDC iron ore production cross 30 MnT mark in FY'19
NMDC - India's largest iron ore mine production in FY19 was recorded at 32.47 MnT despite multiple challenges like closure at Donimalai mines for 5 months, nil exports till Aug'18, highest rainfall in Bailadila sector and poor off take in Karnataka sector for first quarter. Iron ore sales during fiscal year FY'19 stood at 32.39 MnT for FY19. This is the third consecutive year in a row the company has crossed production and sales 30 MnT mark.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
