Resume Businesses Anglo iron ore unit profits down 17% Weaker prices, rail problems affect revenues Jul.25 (Reuters) – Anglo American’s South African iron ore unit (AAL.L) said cooperation between private investors and the government could help solve bottlenecks in rail mounting that are forcing it to stockpile more iron ore at its mines. Kumba Iron…
In an effort to ensure security of raw materials, JSW Steel is seeking to bid selectively for iron ore and coking coal mines, even as brownfield expansions, including operationalization of existing mines, remain the priority. The Sajjan Jindal-led company is also looking at reducing operational costs across its facilities, while expansion plans of 37 MTPA…
Iron ore prices have recovered from a five-month low in May to above $110 a ton for cargoes with 63.5 percent iron content for delivery in China’s Tianjin, but there is uncertainty about the outlook. This is due to the zigzagging performance of China’s steel industry from the start of 2023. However, most research firms…
Updated June 7, 2023 – 2:12 PM, first published on 1:54 p.m Citi has become the latest broker to predict that the rise in iron ore prices will not last, with analysts warning that a lack of meaningful stimulus in China will hold back the expected recovery in steel demand. Prices for the steelmaking ingredient…
Vedanta Limited is on a transformational journey to achieve its ESG goals, in line with GoI’s commitment to decarbonising India’s economy. Bengaluru: Vedanta Iron Ore Karnataka (IOK) and Volvo CE India have signed a memorandum of understanding to deploy sustainable power solutions, such as zero-emission electric off-road machines, on The mines of Vedanta IOK in…
The Railway Board said on Sunday that the freight train involved in the Odisha triple rail accident was carrying iron ore, leading to the huge number of casualties and injuries. Jaya Varma Sinha, Member of Operation and Business Development, Railway Board said the freight train was not derailed but as it was carrying iron ore…
Ranchi: Residents of villages in the iron ore mining areas of West Singhbhum face numerous land and pollution-related problems, a community training and awareness program from a non-governmental organization, Environics, has revealed.The seven-month exercise,’Legal Awareness raising and assistance to communities in India’s iron ore mining regions’ was carried out under the auspices of the United…
NAGPUR: Five companies, including steel giant JSW Steel Limited, have bagged iron ore blocks in the Surjagarh area of Maoist-affected Gadchirol district. After the auctions, the companies have been designated as preferred bidders for a composite licence.Apart from iron ore, Ambuja Cements has emerged as a successful bidder for limestone mining in Devalmara Katepalli pocket…
Nagpur: Five companies, including steel giant JSW Steel Limited, have bagged iron ore blocks in the Surjagarh area of Maoist-affected Gadchirol district. After the auctions, the companies have been designated as preferred bidders for a composite licence.Apart from iron ore, Ambuja Cements has emerged as a successful bidder for limestone mining in Devalmara Katepalli pocket…