NMDC iron ore production for the quarter witnessed at 8.46 MnT, up by 23% Y-o-Y, SteelMint learned from sources. However production is down by 20% as against 10.6 MnT in Q4 FY19.
NMDC iron ore production was impacted amid tribal agitation caused at Kirandul and Bacheli facility. As per orders by Honarable CM of Chhattisgarh, mining was halted at Kirandul on 7th June and at Bacheli on 11th June. However, the operations resumed on 13th June'19. Also, NMDC's Donimalai iron ore mines in Karnataka continue to remain suspended since Nov’18 amid reserved Judgement by High Court.
NMDC iron ore sales up 28% Y-o-Y in Q1 FY20
NMDC iron ore sales marked increase of 28% to 8.73 MnT against Q1 FY19. However marked 15% fall as against 10.25 MnT in Q4 FY19.
Brazil’s Vale (NYSE:VALE), the world’s No.1 iron ore miner, saw output of the steelmaking commodity collapse by almost 34% in the second quarter of the year, compared to the same period in 2018.
European Metals Holdings could begin operations at its Cinovec lithium project in the Czech Republic by mid-2022, and is holding preliminary discussions with potential customers, it said on Monday.
Guinea has launched an international tender for blocks 1 and 2 of Simandou, giving companies until Aug. 2 to outline their bids, as the country seeks to revive interest in the world’s largest undeveloped iron ore deposit.
Iranian government’s economic committee on Sunday approved a mechanism for mining cryptocurrencies as Iran rushes to bring its growing mining farms in line with national laws, Mehr news agency reported.
Production of sponge iron in Iran rose 13 percent during spring, which corresponds to the first quarter of Iranian calendar year, compared to the same period of time in the past year, IRNA reported on Monday.
Iranian Deputy Industry, Mining and Trade Minister for Industrial Affairs Farshad Moqimi said the country’s car makers will soon sign deals worth $7.4 trillion rials (about €157.4 million) with domestic spare parts manufacturers, which will save the country €85 million in a year.