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.

ML Rungta, Rungta Mines, Indrani Patnaik and Serajuddin among offenders

The vigilance department in Odisha has initiated cases against mine owners in connection with illegal mining. The miners against whom cases have been lodged include ML Rungta (Silijora-Kalamati iron ore & manganse mines), Rungta Mines Ltd (Jajang iron ore & manganese mines), Indrani Patnaik (Unchabali iron ore & manganese mines) and Sirajuddin & Company (iron ore mines). All these mine owners have their leases under Joda circle in Keonjhar district, minister for steel & mines Rajani Kant Singh informed the state assembly in a written reply.

PANJIM: Alleging that the Goa Foundation (GF) had "tarnished their image" in connection with the excess iron ore production case which now stands to be withdrawn, mining firms have written to Goa State Pollution Control Board (GSPCB) demanding "compensation".

The 42 mining firms which were accused of excess production by GF, in their reply to the GSPCB, demanded that the show-cause notices issued to them be withdrawn claiming that GF has withdrawn its complaint.

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.

Members in the Legislative Council on Wednesday demanded a foolproof policy for controlling illegal sand mining in the State and conserving rivers for future generations.

Illegal sand mining and use of mechanised boats for extracting sand from river basins posed a threat to the existence of rivers, they contended. JD(S) member M Srinivas said that sand mafia was active in the State and more than 90 per cent of sand in the State was mined illegally, like iron ore in Bellary. But, the government had failed to take action against those involved in the illegal activity.

The illegal mining committed during 2006-11 in three districts of Karnataka has resulted in the state losing a revenue of Rs 3,414.45 crore and the government could recover only Rs 7.22 crore, a report by Comptroller and Auditor General (CAG) of India said.

In Chitradurga, Tumkur and Hospet divisions four lessees had extracted 1.47 million MT of iron ore valued at Rs 150.59 crore without the consent of Karnataka State Pollution Control Board (KSPCB), the CAG report tabled in the Assembly said today. Mining of iron ore and stone quarrying in Karnataka was selected for the audit as they were two major contributors of revenue to the state in major and minor minerals.

State-owned miner NMDC Ltd is working out a method to enter into long-term supply contracts with buyers for iron ore produced and sold through e-auctions in Karnataka.

The company, in a recent submission to the Supreme Court, indicated it would enter into long-term contracts by providing basic price and fixing the prices through e-auction.

The recent clamp-down on miners by the Odisha government, the largest producer of iron ore in the country, is likely to affect India’s sponge iron production by around 15 per cent in the current financial year, according to the Sponge Iron Manufacturers Association (Sima).

“Since Odisha is the largest producer of iron ore and sponge iron, the recent measures taken by the state government will surely impact on (the country’s) sponge iron output. In 2011-12, the output was around 20 million tonnes (mt). We expect this to drop by 15 per cent in 2012-13,” said Deependra Kashiva, executive director of Sima.

Odisha chief secretary BK Patnaik today appeared before the Supreme Court along with state steel and mines secretary Rajesh Verma and Aditya Prasad Padhee, principal secretary to Chief Minister, for contempt of court in a matter related to granting of iron ore mines to Bhushan Power & Steel Ltd (BPSL).

The SC has asked the state government to file its reply in three weeks. The court in March had allowed the appeal of Bhushan Power & Steel and directed the state government to act according to the memorandum of understanding (MoU) between the two parties, signed on May 15, 2002.

Reeling under serious raw material crises, steel makers in Chhattisgarh want Odisha model in the state for their survival.

The Odisha government in its recent order had directed that atleast 50 per cent of the iron ore lumps and 50 per cent of the iron ore fines won from the mines in any month and not put to captive use by the lessees should be sold to the stand alone mineral based industries located in the state. The instruction shall be effective from December 2012 till further order.