Iron ore production to touch 185 MT in 2017-21
The Dollar Business Bureau Since the lifting of the mining ban in the three iron-ore rich states of India, Odisha, Karnataka and Goa, India's iron ore production has increased. It is estimated that by 2021 it could touch 185 million tonnes (MT). According to a Fitch Group research company, India’s iron ore production quantity will touch 185 MT in 2021 from 136 MT this year. It should be recollected that mining in all the three states was at its peak between 2000 and 2012, a time when iron-ore powder from Goa was shipped to meet the steel needs of Beijing Olympics in 2008 and India’s iron ore exports to other countries too flourished. It was also during this period that environmental, land-lease and ...
Government intervention turns concern for mining industry
Sai Nikesh | The Dollar Business The year 2014 was a tough fight for the global mining industry with commodity prices down, short-term volatility increasing and initial scorecard for the top 40 global mining companies was mixed, said a PricewaterhouseCoopers’ (PwC) review report on global trends in the mining industry- Mine 2015. Now, the gloves are off for the mining industry with widespread government intervention, internal industry conflicts and rising shareholder activism, noted the report. Responding to above statement in the Indian context, Basant Poddar, Vice-president of Federation of Indian Mineral Industries (FIMI), MD, Mineral Enterprises Ltd., told The Dollar Business that ‘mining industry in India is facing severe challenges due to higher political intervention’. To a question on ‘whether government ...
