ArcelorMittal, the world’s largest steelmaker, said on Wednesday it had been granted a mining lease to secure iron ore for a steel plant it is building in the Indian region of Jharkhand.
“We are very pleased that the governments of India and Jharkhand have allocated the mining lease in Karampada … and reaffirm our commitment to [...]
ArcelorMittal welcomes the allocation of a mining lease in respect of the Karampada iron ore deposit to the Company by the Governments of India and Jharkhand for its integrated steel plant to be based in Jharkhand.
The Karampada iron ore deposit is located in West Singhbhum district of Jharkhand with estimated reserves of 65 million tons [...]
Monday, the media reported that the Indian Government-owned National Mineral Development Corporation Ltd., or NMDC, the largest iron ore producer and exporter in India, is negotiating with Canadian-based New Millennium Capital Corp., or NML, to develop one of the world’s largest underdeveloped low-grade magnetite iron-ore deposits project, valued at $3.5 billion or Rs.14,000-crores.
Besides developing the [...]
Ispat Industries’ promoter Pramod Mittal-owned Global Steel Holdings Limited has signed up mining leases for iron ore and coal reserves in Brazil, Colombia and Mozambique.
A GSHL spokesman confirmed the development, saying it has signed multiple iron ore leases with Brazil and for thermal and coking coal exploratory blocks with Colombia and Mozambique.
While the spokesman [...]
Bolivia’s state-run Empresa Siderurgica Mutunhas has signed a $2.1bn (£1bn) deal with Indian firm Jindal Power & Steel to mine large deposits of iron.
President Evo Morales said the deal marked the largest foreign investment the central South American country.
The area to be mined, on Mount El Muntun near the border with Brazil, has 40 billion [...]
National Mineral Development, India’s biggest state-run iron-ore producer, said it will spend a total of 135 billion rupees, or $3.2 billion, to raise output, build steel and iron plants and invest in coal mines overseas.
The company, based in Hyderabad, will invest 35 billion rupees to raise iron-ore production 85 percent, the company’s chairman, B. Ramesh [...]
India’s leading steel-maker Essar Steel has won the prospecting licence for Chhattisgarh’s Bailadila deposits, which has one of the world’s finest quality iron ore stocks. This happened after a state-run firm’s lease expired unutilised.
The central government has approved the Chhattisgarh government’s proposal to award the prospecting license to Essar Steel for a 2,285-hectare stretch in [...]
Jharkhand Chief Minister Madhu Koda has sought a fortnight from Arcelor Mittal Steel to settle the issue of iron ore supply. Jharkhand is unable to meet the steel giant’s demand of 600 million tonnes of iron ore for 30 years to set up a 12 million tonne steel plant.
Representatives from the company met Koda in [...]
Jindal Steel & Power (JSPL) officials will meet representatives of the Bolivian government to discuss details of the exploitation contract for El Mutun iron field in that country.
Last year, JSPL had bagged the development rights of 20 billion tonnes of iron ore reserves at the mines in Bolivia.
The El Mutun mines are one of the [...]
NRI steel tycoon LN Mittal has said that India should restrict export of iron ore but allow companies to sell lower quality ore overseas.
“There is plenty of iron ore in India but we should restrict export growth of higher FE (ferrous) content ore and allow ore containing lower FE,” Mittal told a group of Indian [...]
