Renewal of long-term agreements for supply of iron ore to Japan, South Korea okayed
Source: PIB, Government of India The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval to renew Long Term Agreement with Japanese and South Korean Steel Mills for supply of high grade Indian iron ore, during the three year period from April, 2015 to March, 2018. The quantities covered under the agreement will be in the range of 3.8 million tonnes to 5.5 million tonnes per year, and will be supplied primarily from the mines of the National Mineral Development Corporation (NMDC). The contract will be executed by the Metals and Minerals Trading Corporation of India Limited (MMTC) under the Department of Commerce. Iron ore of higher grade have been supplied by India to Japan and ...
