NMDC- India's largest iron ore mine production in Apr'19 recorded at 2.9 MnT down 28% as against 4.04 MnT in Mar'19. However on yearly basis production moved up up 20% as against 2.41 MnT in Apr'18. .
NMDC Apr'19 iron ore sales witnessed drop to 2.7 MnT as compared to 3.59 MnT in Mar'19. However, on yearly basis it has increased by 22% as against 2.22 MnT in Apr'18. NMDC had reduced prices for lumps and fines by INR 150/MT each at the beginning of April'19.
Iron ore operations are still on hold at NMDC's Donimalai mine, which had renewed lease on 3rd Nov'18 for the next 20 years. But the state govt. put the additional condition to pay 80% premium on iron ore sale value from Donimalai to the Karnataka state Govt. The case was filed in the high court and both the side had kept their conclusive remark in the High Court. Judgement is still awaited, no date has been revealed.
NMDC iron ore production cross 30 MnT mark in FY'19
NMDC - India's largest iron ore mine production in FY19 was recorded at 32.47 MnT despite multiple challenges like closure at Donimalai mines for 5 months, nil exports till Aug'18, highest rainfall in Bailadila sector and poor off take in Karnataka sector for first quarter. Iron ore sales during fiscal year FY'19 stood at 32.39 MnT for FY19. This is the third consecutive year in a row the company has crossed production and sales 30 MnT mark.
K92 Mining (TSXV: KNT) reported on Thursday its operating and financial results for the second quarter, during which the Vancouver-based gold miner saw record tonnes processed and achieved total production of 19,652 oz gold-equivalent (AuEq) from the Kora North deposit with cash costs of $551/oz gold and AISC of $681/oz gold.
Steel Authority of India Ltd (SAIL) has reduced basic grade (steel grade) pig iron offers by around INR 700/MT (USD 10) from its Bhilai Steel Plant (BSP) based in Central India, SteelMint learned from market sources.
Imported scrap offers to South Asia plunge below 2 years low levels on limited demand
Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.
Alang - Gujarat, has registered sharp growth in imports of scrapped ships in Jul'19 and the volume reached 7 months high since Dec'18, as per custom data maintained by SteelMint.
JSW Steel, India's largest private steel producer has released its monthly crude steel output results today for Jul'19. The company reported decline in its production numbers over dull demand and low buying prevailing in domestic market.