Steel industry expects availability to fall further in 2013-14, no exports recorded since November

The severe shortage in iron ore supplies from Karnataka and Goa, where mining was stopped following a Supreme Court directive, and the cap on production in Odisha have led to India becoming a net importer of iron ore this financial year. Till 2011, India was the third-largest exporter of iron ore.

Bhubaneswar: The Comptroller & Auditor General of India(CAG) has detected large-scale irregularities in allotment of land and houses by the Orissa government and estimates a scam of about R4,000 crore.

While sending a draft report to the Orissa government, a copy of which is available with FE, the CAG has suggested that the land and houses allotted to various individuals and organisations is in violation of the laws and policies and be cancelled immediately.

Sustainability reporting is one of the key elements of sustainability management for Essar Steel India and plays an important role in its mission to create value for the stakeholders and resolve risks and threats to the business in the terms of long-term economic growth, environment and ecological conservation and societal engagement.

‘The Supreme Court on Friday refused to stay recovery of entry tax dues amounting to more than R350 crore, payable on goods imported by companies for their plants and services in Orissa between 2008 and 2012. Companies including Vedanta Aluminium and Tata Steel have been slapped notices over these dues.

A bench headed by Justice HL Dattu, while issuing notice to the state government, refused to grant interim stay against the Orissa High Court’s order that upheld the state’s decision to tax the import of capital goods under the provisions of the Orissa Entry Tax Rules, 1999. However, the state government said it will not take any coercive action against the firms.

New Delhi: This might have looked improbable until a couple of years ago, but recent curbs on mining of iron ore in regions rich in this natural resource have prompted Indian firms to import this k

The ministry of environment and forests on Wednesday granted forest clearance to the Mahan coal block spread over 1,082 hectares of prime forest in the Singrauli district of Madhya Pradesh.

This coal block was denied clearance four times by the Forest Advisory Committee, who had cited the presence of a large tribal population dependent on these forests for their livelihood.

Ranchi, Oct.

NMDC has raised iron ore prices by 8-13 per cent for domestic sales

Fearing a further squeeze on profit margins, steel manufacturers have sought intervention of the ministry of steel in the issue of the recent “arbitrary” price increase in iron ore price by state-owned NMDC. In a letter dated August 30, signed by Alok Chandra, chairman of the Sponge Iron Manufacturers Association (Sima), steel and sponge iron producers argued that NMDC’s price rise came even as the the price of iron ore had declined substantially in global markets. NMDC has raised iron ore prices by 8-13 per cent for domestic sales.

The Comptroller and Auditor General (CAG) has estimated windfall gains of Rs 1.86 lakh crore to over 90 private companies that were allocated captive coal blocks between 2004 and 2009 in an alleged

Move likely to improve margin at Vadinar refinery by $1 per barrel.