India: NMDC Iron Ore Production Fall 28% in Aug’19
NMDC- India's largest iron ore producer registered 28% decline in production for the month of Aug'19 at 1.41 MnT as against 1.95 MnT a month ago. On yearly basis too, production fell by 4% as compared to 1.46 MnT in Aug’18. The production has witnessed a fall amid heavy rains & monsoons and prolonged closure at Donimalai mines. Out of the total production of 1.41 MnT in Aug, 0.79 MnT were from Chhattisgarh mines (down 32% M-o-M), while remaining 0.62 MnT (down 22%) stood from Karnataka mines.
In Aug'19 Govt of Karnataka, decided to cancel the lease renewal order of NMDC's Donimalai mines in Karnataka in an order dated 17 Aug '19 and further put for an auction sale of the expired mine lease block. Following this, NMDC had requested the Government of Karnataka to withdraw its letter stating withdrawal of NMDC Donimalai lease renewal and requested for urgent hearing on the matter by filing revision application. After this, Central Govt. mines tribunal has put a stay until the next date of hearing regarding cancellation of the lease renewal order of NMDC's Donimalai mines and on an auction for sale.
NMDC iron ore sales fell 38% in Aug’19
NMDC iron ore sales in Aug'19 recorded at 1.49 MnT down 38% as compared to 2.41 MnT in July'19. On yearly basis too, sales have dropped sharply by 36% as against 2.32 MnT in Aug'18. Sales from Chhattisgarh mines witnessed at 1.05 MnT and sales from Karnataka mines at 0.44 MnT, down sharply by 46%.
Amid weakening steel prices, NMDC reduced iron ore fines and lump prices towards Aug end by INR 200/MT in both Chhattisgarh & Karnataka, also lowered DRCLO prices by INR 230/MT.
source: SteelMint
Top News
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
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
BHP seeks Brazil growth to emerge from shadow of mining disaster
Norilsk Nickel plans to sell all it produces in 2025
Gold price could extend record run into 2025, Heraeus says
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
Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
