The State-run National Mineral Development Corporation (NMDC) and Russian steel maker Severstal are likely to sign a final agreement to set up a steel plant in Bellary by the end of this year.

“Both companies have appointed legal consultants to study the project structure, and based on inputs, both firms will sign an agreement,” N K Nanda, Chairman and Managing Director, NMDC, told Deccan Herald on Thursday.

A day after Maoists killed six CISF personnel and a driver inside the biggest iron ore mining facility in the country, the National Mineral Development Corporation (NMDC) complex here remained ungu

NMDC has decided to go full throttle in securing at least three mines in Russia for about Rs 1,600 crore.

New Delhi NMDC has decided to go full throttle in securing at least three mines in Russia for about Rs 1,600 crore. Besides, the navratna company will also invest 1,75,950 Australian dollars (Rs 95,02,162) for buying out 50 per cent stake of Legacy Iron Ore Ltd’s mines in Australia within two months.

In its meeting on April 16, the NMDC Board deliberated extensively on the company’s proposals to acquire the three mines in Russia and directed that the PSU should commence an internal due diligence on acquiring the South Coal project in Rostov owned by Cyprus-based Coal Mining Investments Ltd having reserves of 364 million tonne.

Even as opinions are divided over the feasibility of such a measure, fissures have already emerged within the Australian polity over the imposition of the controversial carbon tax from July 1 this year.

The New South Wales (NSW) government has opposed the introduction of the carbon tax by the federal government led by Prime Minister, Julia Gillard. In reply to queries posed by The Hindu, NSW Minister of Resources and Energy and Central Coast, Christopher Hartcher said the NSW government does not support the introduction of the carbon tax by the federal government. “The government is concerned about the impact on cost of living for NSW families and businesses

Chennai: State-run iron ore miner NMDC’s decision to increase ore prices by 10% has put the steel industry in a corner, most of whom were expected to announce price increases over the next few days

In a relief for the mining industry, the Supreme Court today proposed resumption of operations in 45 iron ore mining leases in Karnataka, provided they abide by the Reclamation and Rehabilitation (

With barely eight million tonnes (mt) of iron ore left for auction in Karnataka, sufficient to fire the steel mills’ furnaces for two months, iron and steel companies in and around the state, including JSW Steel and Kalyani Steel, are in dire need of the key raw material.

In the absence of regular mining, they expect the Supreme Court to give a nod for auctioning another two to four mt of additional ore stored at various stockyards of miners and private traders. The apex court is resuming the hearing on the illegal mining case tomorrow.

Proposes allowing one category of 45 lessees for now, with strict riders including approved R&R plan in line with earlier guidelines; more stringency for others

The Central Empowered Committee (CEC) appointed by the Supreme Court to probe illegal mining in Karnataka has recommended restarting of operations in one of the three categories of leases, with riders. The SC is to hear the case tomorrow.

Industry wants quick SC intervention as the only alternative for survival

Seven months after the Supreme Court issued a detailed corrective plan for rampant illegal mining in Karnataka, until recently the iron ore hub of India, the viability of the Rs 45,000-crore steel industry in the southern state remains in question.