NMDC ready to raise iron ore supplies to meet demand - Mr Som
2011-08-09 09:35:59 [Print]
Seeking to allay fears of iron ore supply shortages, state run miner NMDC said that it is willing to substantially increase the raw material availability in this quarter to meet the rising demand.
Moreover, the company will take a decision on Tuesday, in consultation with the steel ministry, on modalities of raising the mineral supplies to steel and allied industry.
Mr Rana Som chairman of NMDC said that preference may be given to customers having long term contracts and that the company is looking at production of about 7 million tonnes of iron ore in this quarter, 15% more than April to June period.
The move of the state run miner comes in the backdrop of an apex court order of Friday, which allowed mining of iron ore in Karnataka's Bellary region to NMDC only and fixed the quantity at one million tonnes per month.
Mr Som said that "We are gearing up to meet the demand and will increase supplies substantially to meet the shortages. We will take a decision on modalities of supply on August 9, after consulting the steel ministry adding that long term contracts have to be honored but modalities have not been decided yet.”
JSW Steel, Rashtriya Ispat Nigam, Essar Steel, Lanco Group are some of the companies having long term contracts with NMDC.
Moreover, the company will take a decision on Tuesday, in consultation with the steel ministry, on modalities of raising the mineral supplies to steel and allied industry.
Mr Rana Som chairman of NMDC said that preference may be given to customers having long term contracts and that the company is looking at production of about 7 million tonnes of iron ore in this quarter, 15% more than April to June period.
The move of the state run miner comes in the backdrop of an apex court order of Friday, which allowed mining of iron ore in Karnataka's Bellary region to NMDC only and fixed the quantity at one million tonnes per month.
Mr Som said that "We are gearing up to meet the demand and will increase supplies substantially to meet the shortages. We will take a decision on modalities of supply on August 9, after consulting the steel ministry adding that long term contracts have to be honored but modalities have not been decided yet.”
JSW Steel, Rashtriya Ispat Nigam, Essar Steel, Lanco Group are some of the companies having long term contracts with NMDC.
