Domestic steel mills to benefit from low ore prices, ICRA
The Dollar Business Bureau Domestic steel mills may benefit from lower iron ore and coking coal costs in the current year but sustained weakness in demand still remains a concern, ICRA said. The ratings agency in a report said, "Sustained demand weakness remains a concern for the domestic steel industry with a growth of mere 4.6% and 2.6% in FY2016 and FY2017 respectively due to sluggishness in key end-user industries. "Weak demand conditions have led to a correction in domestic hot rolled coil (HRC) prices by 7% in May 2017." The report also specified that the seaborne iron ore prices have corrected by 36% between February and May of 2017 dragged down by a correction in Chinese steel prices, steadily rising iron ore ...
Aus govt company seeks to invest in Adani's coal mine project
PTI An Australian government-owned fund manager company has expressed interest to invest in "infrastructure pieces" of Indian energy giant Adani's $21 billion controversial coal mine project in Queensland. Chief executive of QIC Damien Frawley said the company, whose major clients include defined benefit superannuation scheme for Queensland public servants, was keen to explore infrastructure opportunities around the state. Even though the company has not been approached for investment in the Adani's Carmichael coal mine project, QIC has said it would not be interested in the mine itself. "But the infrastructure pieces of Adani would be interesting for us to explore. If it fitted within the return rates we are seeking," Frawley was qouted as saying by 'The Courier Mail' here. The indicated area of investment ...
Adani clears another hurdle in bid to get mining lease
Adani and Council have worked closely together to ensure a way forward and a positive outcome, Mayor of Isaac region in the Australia's Queensland state, Anne Baker, said Mayor of Isaac region in the Australia's Queensland state, Anne Baker, said Source: PTI Both parties are committed to commencing negotiations on the next and important step, the infrastructure agreement Indian mining giant Adani's $6.5 billion controversial coal mine project in Australia's Queensland state has inched closer to getting its mining lease after it struck a mining compensation deal with a local government body. The agreement was signed yesterday at state's Isaac Regional Council meeting. Adani now needs to strike a similar compensation for council infrastructure as well as landholders and native title holders before getting ...
