India to cut export tax on low-grade iron ore to 10% from 30%
India will cut the export tax on low-grade iron ore to 10 percent from 30 percent, Finance Minister Arun Jaitley said on Thursday, a move that will boost shipments of the steelmaking raw material from Goa.
Apr 30, 2015, 18:09 PM IST
Big China steel thrives, stoking export fears
Plunging iron ore prices are providing a lifeline for some of China`s biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union and countries such as India.
Apr 27, 2015, 09:51 AM IST
BHP Billiton`s iron ore output jumps despite weak price
Mining giant BHP Billiton Wednesday said total iron ore production for the nine months to March jumped to a new high as prices remained near a decade-low, but deferred a project to boost output of the commodity to save costs.
Apr 22, 2015, 12:02 PM IST
POSCO Q1 profit up 20%, low iron ore costs outweigh weaker steel prices
That compared with 518 billion won in operating profit in the same period a year earlier, and 632 billion won in the October-December quarter.
Apr 21, 2015, 13:00 PM IST
NMDC shares dip over 5% on cut in iron ore prices
Shares of state-run mining company NMDC plunged over 5 percent Monday, leading to an erosion of Rs 2,755 crore from its market valuation, after the company slashed iron ore prices by up to 20 percent.
Apr 20, 2015, 18:06 PM IST
NMDC slashes iron ore prices by up to 20%
Coming under pressure from the domestic steel sector, NMDC Saturday slashed iron ore price by up to 20 percent for the remaining days of the current month.
Apr 18, 2015, 14:51 PM IST
Sesa Sterlite's iron ore, oil output dips in FY'15
Minerals major Sesa Sterlite Friday reported a decline in production of oil and gas, zinc and iron ore for the financial year 2014-15.
Apr 10, 2015, 17:45 PM IST
72 Iron ore mines in Goa can resume operations
The Union Ministry of Environment and Forest (MoEF) has issued an order revoking suspension of environmental clearances (ECs) to 72 iron ore mines in Goa, giving some boost to the coastal state's economy.
Mar 21, 2015, 19:30 PM IST
Parliament passes Mines Bill, overcoming obstacles
The Mines and Minerals (Development and Regulation) Amendment Bill, 2015, was passed by the Rajya Sabha earlier today and later approved by the Lok Sabha within 20 minutes.
Mar 20, 2015, 16:25 PM IST
Rajya Sabha passes Mines Bill, overcoming procedural wrangles
The Bill was passed by 117 members voting in favour and 69 against it, after Mines Minister Narendra Singh Tomar moved it for passage.
Mar 20, 2015, 13:40 PM IST
No dearth of iron ore in country: Govt
With 152 million tonne production against consumption of 111 MT in 2013-14, there is no dearth of iron ore in the country, the government Monday informed Parliament.
Mar 16, 2015, 16:48 PM IST
ArcelorMittal sees iron ore hit, lower steel growth in 2015
ArcelorMittal, the world`s largest producer of steel, forecast on Friday its profit would fall in 2015, rather than improve as expected, as iron ore prices sapped mining earnings and steel market growth cooled from last year.
Feb 13, 2015, 12:52 PM IST
Fimi wants scrapping of export duty on iron ore fines
Miners' body Federation of Indian Mineral Industries (FIMI) has sought bringing down export duty on low-grade iron ore and pellets to nil and raising import duty on pellets to 30 per cent in the Budget.
Feb 09, 2015, 18:54 PM IST
Govt may cut duty for iron ore exports from Goa
Keen on bailing out the struggling Goan iron ore sector, the Centre may soon announce a special package for miners in the state by pruning duty on exports of the steel-making raw material from 30 per cent.
Feb 05, 2015, 16:01 PM IST
Around 12 million tonnes of iron ore stuck at Indian ports
Around 12 million tonnes of low-grade iron ore has been stuck at Indian ports for months, stranded as hefty export taxes and plunging prices make higher quality ore more appealing to buyers, said industry and government officials.
Feb 04, 2015, 11:31 AM IST
Mixed reaction from industry on mines ordinance
Steel makers on Wednesday welcomed mines ordinance while some core mining firms alleged that unfair treatment has been metted out to them by giving just 5-year lease extension for non-captive mines.
Jan 14, 2015, 21:01 PM IST
Presidential assent to mines ordinance; deadlock could be over
The logjam in the mines sector is expected to be cleared with the promulgation of an ordinance by the President that provides for auctioning of mines containing iron ore and others besides provision for up to five years of imprisonment for illegal mining.
Jan 13, 2015, 17:11 PM IST
Prez nod to ordinance for iron ore, non-coal mineral auction
President Pranab Mukherjee has given his assent to an ordinance for auction of iron ore and other non-coal mines, a government source said.
Jan 13, 2015, 13:21 PM IST
Iron ore shortage to impact profitability: Tata Steel
Tata Steel Monday said suspension of a blast furnace for over a month at its Jamshedpur facility for want of iron ore impacted production and profitability in the current quarter.
Dec 29, 2014, 15:26 PM IST
Oil, coal and iron ore at financial crisis levels
Tumbling oil, coal and iron ore prices are now all at levels last seen during or before the financial crisis of 2008/2009, signalling not only the impact of a glut of supplies but deeper weakness in parts of the global economy, analysts say.
Dec 15, 2014, 18:55 PM IST
