India: Prakash Industries to Commence Operations at its Captive Iron Ore Mine Soon
Prakash Industries Ltd (PIL) - one of the major steel producers in Central region of India today announced that they have now received the grant of surface right permission to open Sirkaguttu Iron & Manganese ore mine, Keonjhar, Odisha. The development of mine is being undertaken and iron ore extraction is likely to commence in a fortnight's time.
The said Iron ore mine has geological reserves of around 9.9 MnT. With this captive sourcing, the operating margins and profitability of the company would improve significantly.
The state govt. of Odisha had executed a mining lease of Sirkaguttu Iron & Manganese ore mine in favour of the Company in Keonjhar District of the State on 11th Jan'17.
The company recorded highest ever production of 9.7 lac tonnes of Steel Billets during FY2019. It also recorded highest ever sales volume of 9.4 lac tonnes during FY'19, registering growth of 20% Y-o-Y.
The company has integrated steel plant in Chhatisgarh with finished steel capacity of 1.1 MnT.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
