India: NMDC Sales Up 28% and Production 16% in Sept’19
NMDC- India's largest iron ore producer registered iron ore sales at 1.91 MnT for the month of Sep’19, up 28% as compared to 1.49 MnT in Aug'19. Sales from Chhattisgarh mines witnessed at 1.34 MnT (up 28% M-o-M) and sales from Karnataka mines at 0.57 MnT, up 30% on monthly basis.
NMDC iron ore sales recorded increase for the month. The miner slashed iron ore lumps and fines prices by INR 200/MT and DRCLO by INR 230/MT from Chhattisgarh mines, and from Karnataka mines prices reduced by INR 300/MT in both fines and lumps last month.
On yearly basis, sales have dropped 18% as against 2.34 MnT in Sep'18.
NMDC iron ore production up 16%
NMDC registered 16% increase in production for the month of Sep'19 to 1.64 MnT as against 1.41 MnT Aug’19. Production from Chhattisgarh mines picked up by 33% M-o-M to 1.05 MnT, while it dropped by 5% from Karnataka mines to 0.59 MnT.On yearly basis, production fell sharply by 30% as compared to 2.35 MnT in Sep’18.
Ministry of Mines has made a recent development in MMDR Amendment Act to get the issue of NMDC Donimalai case resolved and grant renewal of it. The Central Government has made renewal of mining leases of public sector companies mandatory without going through the auction process. The amendment paves way for renewal of NMDC Donimalai mines where operation was suspended after lease expiry in Nov’18.
In Aug'19 Govt of Karnataka had decided to cancel the lease renewal order of NMDC's Donimalai mines in Karnataka in an order dated 17 Aug '19 and had further put for an auction sale of the expired mine lease block.
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
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
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
