Almost 31 months after the Supreme Court direction for re-allotment of ‘C’ category iron ore mining leases to end users, the Karnataka government has set the ball rolling for the auction of 11 such
According to industry estimates barely 2-3 mn tonnes of pellets available in market in eastern sector
The shortage of iron ore lumps and pellets as well as increase in their prices in domestic market due to closure of 26 mines in Odisha, following the Supreme Court ban, is likely to result in the import of the raw material.
Karnataka proposes to auction 15 of its Category-C mines to end-users
In what could be a first for the country’s iron ore sector, the Karnataka government is readying an action plan to auction iron ore mines to end-users. To begin with, it has proposed to put 15 of its 51 Category-C mines on the block and sought permission for this from the Supreme Court, which is to hear its appeal on Friday.
Investment of over Rs 35000 cr may be put on hold by industry
Finance minister P Chidambaram's move to retain 5 per cent duty on export of pellets has deeply disappointed the iron ore mining industry. The industry, which was expecting duty withdrawal in the interim budget 2014-15, said the industry might consider closing down existing units and put on hold investment to the tune of over Rs 35,000 crore.
Base prices doubled in e-auctions; steel makers to move Supreme Court, CCI for intervention; want price fixation agency
Iron ore prices have almost doubled at e-auctions in Karnataka, with one mine after another setting much higher base prices. It has led to the impression that they’ve come together to keep prices of this scarce steel raw material high.
