CM Mamata Banerjee's emphasis on rigid land policy has pleased farming community, not industry

After a historical victory on the plank of Maa-Maati-Manush (mother-land-people), the Trinamool Congress government grappled with major economic issues during the year, which experts say, would warrant dramatic reversal of policies on issues such as land acquisition. It is felt the Chief Minister Mamata Banerjee's emphasis on a rigid land policy has pleased the farming community but not the industry.

Iron ore inventories at China's main ports hit a two-year low last Friday, falling 2.06 mn tonnes to 73.81 mn tonnes

Iron ore steadied in thin pre-holiday trade after a three-week rally with markets cautious over weak steel demand in China, the world’s top steel and iron ore consumer. The benchmark index for 62-per cent grade iron ore was $135.4 a tonne last Friday, almost flat with $135.5 a tonne on Thursday, according to the Steel Index. It clung to an almost five-and-a-half month high.

The state government paid over Rs 69.36 lakh from the state exchequer to lawyers in the last four years to fight cases of steel and mines department pending in courts.

Italy's lower house of parliament on Wednesday approved legislation to keep the troubled ILVA steel plant going during a two-year clean-up to resolve environmental concerns.

Loss due to non-revision of domestic prices by the company in line with movement of market price

Iron ore miner NMDC has suffered Rs 745.94 crore revenue loss during 2007-10 for not revising the domestic prices of the steel-making raw material in line with prevailing market rates, government auditor CAG said. "...Due to non-revision of domestic prices by the company (NMDC) in line with movement of market price, the company has suffered a revenue loss of Rs 754.94 crore during 2007-10," CAG said in a report, tabled in Rajya Sabha, today.

Munat informed the House that the plant would be requiring 6000 cubic meter of water per day during the construction stage and 147120 cubic meter per day for operating the plant. The minister said pipe lines would be laid from Indrawati and Sabri rivers to the plant site for ensuring water supply

The National Mineral Development Corporation (NMDC) would get water for its Nagarnar steel plant from Indrawati and Sabri rivers. The Minister for Industry in Chhattisgarh, Rajesh Munat informed in the Chhattisgarh Legislative Assembly (CLA) on Wednesday that the state government would meet NMDC plant’s water requirement from Indrawati and Sabri rivers flowing in Bastar region where the mining major is setting up a steel plant.

The Karnataka Iron and Steel Manufacturers’ Association (KISMA) on Tuesday urged the State government to expedite the resumption of operations at all ‘A’ category mines, so that the steel industry gets adequate supply of iron ore.

Addressing reporters, KISMA president Vinod Nowal, who is also the CEO of JSW Steel, said the steel industry had been facing a severe shortage of iron ore in the State. Against the total annual requirement of about 35 million tonnes (mt), the industry has been getting 15 mt, he said.

This adds to the list of projects that left the state, whose industrial image has suffered

It is curtains for yet another large-scale project in West Bengal. The Videocon group on Tuesday said it was unlikely to go ahead with its Rs 20,000-crore steel and power plant project at Jamuria. There were speculations that the consumer electronics major might relocate the project amid land acquisition hurdles. The minimum land requirement for the project is about 1,800-2,000 acres.

The European Commission is considering whether to hand out more free pollution allowances for the steel sector next year to counter the risk the industry could be driven out of Europe, EU sources s

Under the agreement, JFE will provide technology for the production of non-oriented electrical steel sheets at JSW's Bellary plant

JSW Steel Ltd and Japan’s JFE Steel Corporation on Monday announced signing of a joint agreement for technical collaboration. Under the agreement, JFE will provide technology for the production of non-oriented electrical steel sheets (CRNGO) at the JSW’s Vijayanagar plant in Bellary district of Karnataka.