With misclassification of different grades of minerals by mining leaseholders found to be at the root of illegal mining, the Union mines ministry has tightened the procedure to be followed by states for
Rio Tinto last night slammed Chinese steelmakers over increasingly aggressive negotiating tactics, after the China Iron & Steel Association called for its members to boycott the Anglo-Australian mining group's spot sales of iron ore. The steelmakers have failed to agree a 2008-09 annual contract price with Rio and BHP Billiton despite months of talks. Earlier this year, the Chinese authorities delayed issuing permits needed to import some shipments of Australian iron ore, a move that was also considered a negotiating ploy.
After Tata Steel, Essar Steel is likely to join the race for Brazilian miner and steelmaker CSN's Nacionale Minerios (Namisa), a fully integrated iron ore company, Sources close to the development said Goldman Sachs has approached Essar with the acquisition proposal and the company was considering it. Goldman Sachs, which advised CSN during the takeover battle for Anglo-Dutch steel company Corus with Tata Steel last year, has been retained as its financial advisor for Namisa.
Step into Jharkahnd's Tentoposi village in Seraikela district and you will be greeted with hostile glances. Sitting on rich mineral reserves of iron ore, residents of this village are constantly
This study examines the utilization of iron ore in India. It takes into account the significant reserves of iron ore in India and allays fears that the country's steel industry will run out of iron ore resources if exports continue at the current level. On the contrary,it says that exports are necessary to maintain a structural balance in the market between production and consumption of lumps and fines as nearly 80% of exported ores are fines which are not adequately used in India. This study also highlights the specific problems of the Goa/Radi region.
THE battle for controlling iron ore resources in the country is far from over. After the steel industry's demand for further curbs on iron ore exports, the mining industry has come up to rebut claims that ore exports would diminish country's resources which are required for value addition within the country. The industry under the aegis of Federation of Indian Mineral Industries (FIMI) has written to prime minister Manmohan Singh and finance minister P Chidambaram seeking removal of export duty on iron ore that had affected their plans for expansion, exploration and value addition. "The imposition of export duty had affected the plans to start value-addition of iron ore into pellet, sponge iron, pig iron as well as integrated steel mills,' FIMI secretary general R K Sharma told ET. "We have sought audience with both the prime minister and the finance minister to apprise them of the negative impact of the recently imposed duty on the industry,' Mr Sharma explained. The latest move of the mining industry comes after an onslaught of sorts by the steel industry which has succeeded in getting the steel ministry to suggest shifting the present fixed rate export duty on ore to an ad valorem system with 10-15% duty for inclusion in this year's budget. According to FIMI, the claims of steel industry that resources would vanish in no time if export curbs are not introduced are far fetched. "The current iron ore resources of about 25 billion tonne will last for 75-85 years as steel production touches 200 million tonne (MT) by 2020. With more exploration, introduction of technology to treat lower grade ore and increased use of scrap, the resource cycle could be increased by another 125-150 years. Moreover, the vast magnetite iron ore in the country can be beneficiated for use by the steel sector as is being done in Australia, Brazil, China and even USA,' FIMI has said in its note on vibrant iron ore industry. The mining industry has also said that India could only increase its resource by 50% in last 25 years, but countries like Brazil have increased its production ten times in the same period. "If India also increases spending on exploration from a mere $ 5 million annually to a level of $ 500 million in Australia or even to $ 150 million in Brazil, we could add another 20 to 25 billion tonne of resource," the FIMI note has said . The mining industry has also said it is largely exporting ore that is not used by the steel industry. "Let me clear one thing that steel sector is not interested in lowgrade iron ore
Scientists have discovered a new species of limbless lizard from Orissa's Khandadhar hills. "This 19-cm-long lizard looks like a scaly, small snake,' says Sushil Kumar Dutta, a zoologist from the
Anaemia is a widespread condition in India. The biggest cause is malnourishment and iron-poor diets. Though the best remedy is a good diet, anaemia has spawned a huge market for iron supplements,
I wrote last fortnight about how mining in Goa for iron ore was ripping its forests and devastating its people. I wrote of the violence and protests I saw in its villages, where miners were pitted against people angry at the loss of their cultivable lands and their water bodies. I had asked then
This fortnight 12 tribals were killed in a police firing in Orissa. Their crime: protesting against the acquisition of their land for an industrial park. The state says that it had acquired some
Conflict kindles among states of India s iron ore belt
