8th World Antimony Forum
TBD
Guiyang, Guizhou, China
12th Rare Earth Summit
TBD
Hangzhou, Zhejiang, China
11th Aluminum Raw Materials Summit
TBD
Hangzhou, Zhejiang, China
9th Magnesium Summit
TBD
Hangzhou, Zhejiang, China
13th World InBiGeGa Forum
TBD
Hangzhou, Zhejiang, China
7th World Antimony Forum
June 13-14, 2019
Changsha, Hunan, China
7th Refractory & Abrasive Materials Summit 2019
May 23-24, 2019
Qingdao, Shandong, China
10th Aluminum Raw Materials Summit
May 16-17, 2019
Zhengzhou, Henan, China
11th Rare Earth Summit
May 9-10, 2019
Qingdao, Shandong, China
8th Magnesium Summit
April 11-12, 2019
Zhuhai, Guangdong, China
12th World InBiGeGa Forum
March 14-15, 2019
Zhuhai, Guangdong, China
NMDC targets 50% output jump next year
2020-02-14 08:59:27 【Print】
India's biggest iron ore miner plans to raise production by as much as 50%, potentially boosting supplies and alleviating concerns of shortages of the key raw material.
State-run NMDC Ltd. is targeting production of 48 million tons in the year starting April, and will surpass 32 million tons this year, Amitava Mukherjee, director of finance, said. The growth in supplies will come mainly from its mines in Chhattisgarh and includes 7 million tons of iron ore from the Donimalai mine in Karnataka state that is currently closed.
The company is positive on restarting the Donimalai mine, Mukherjee said. The Karnataka government withdrew the lease for Donimalai in November 2018 after NMDC denied higher royalties from profits demanded by the state. In October, the federal government tweaked mining rules to make the renewal of mining leases belonging to state-run companies mandatory without going through the auction process. While the matter is now pending with a Mines Tribunal, the new rules favor NMDC.
NMDC's plans to raise production come as concerns rise that delays in the auctions of mines whose leases expire in March could squeeze domestic iron ore supplies. The government has been trying to boost supplies to mitigate any shortfall next year, including by extending environmental approvals for leases of mines due to expire by March.
Appetite for the key steel-making raw material is set to increase as Prime Minister Narendra Modi plans to spend $1.5 trillion on energy, road and railway projects in the next five years, boosting steel demand.
.
State-run NMDC Ltd. is targeting production of 48 million tons in the year starting April, and will surpass 32 million tons this year, Amitava Mukherjee, director of finance, said. The growth in supplies will come mainly from its mines in Chhattisgarh and includes 7 million tons of iron ore from the Donimalai mine in Karnataka state that is currently closed.
The company is positive on restarting the Donimalai mine, Mukherjee said. The Karnataka government withdrew the lease for Donimalai in November 2018 after NMDC denied higher royalties from profits demanded by the state. In October, the federal government tweaked mining rules to make the renewal of mining leases belonging to state-run companies mandatory without going through the auction process. While the matter is now pending with a Mines Tribunal, the new rules favor NMDC.
NMDC's plans to raise production come as concerns rise that delays in the auctions of mines whose leases expire in March could squeeze domestic iron ore supplies. The government has been trying to boost supplies to mitigate any shortfall next year, including by extending environmental approvals for leases of mines due to expire by March.
Appetite for the key steel-making raw material is set to increase as Prime Minister Narendra Modi plans to spend $1.5 trillion on energy, road and railway projects in the next five years, boosting steel demand.
.