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iron ore News

Goa's iron ore reserves may exhaust within ten years, opine expert

Being a strategic mineral resource, indigenous production can save the much-needed foreign exchange, in which laterites can play a significant role, like bauxite, which is mined from south Goa.

China iron ore, steel futures gain in commodities, dollar falls to 3-week low

Many investors have ruled out the Fed raising rates this month, sending the dollar to its lowest in more than three weeks.


Iron ore set for fifth weekly fall, seasonally slow steel demand period in China

A downward pressure is likely to build as China's steel demand slows and iron ore supply rises, as iron ore was headed for its fifth weekly drop.

Iron ore, steel rise on signs of property recovery in China

Prices were also steadying after Chinese bourses rolled out fresh rules to curb commodity speculation, contributing to last week's heavy sell-off.

Cabinet to take up mines ordinance in next few days

The ministry has moved a cabinet note seeking approval to promulgate an ordinance to amend the Mines and Minerals Act, 1957.

As revenue mop-up lags, Orissa asks captive mines to raise output

FY15 target stood at Rs 6,346 cr, but by November-end, only Rs 2,625 crore could be collected.


Govt working on auctions for iron ore, bauxite

A source in the mines ministry said strict criteria have been set for the auction.

Commodities fall, India rises

Falling prices of commodities, especially Brent crude, this year have proved to be a boon for a net importer like India as inflation has started easing and petroleum subsidies are expected to be much lower from a year earlier, reports Banikinkar Pattanayak in New Delhi. Coupled with conducive bases, the drop in key commodity prices […]

Cabinet approves hike in royalty rates for minerals

Currently royalty rates are computed as per pit mouth value of minerals by Indian Bureau of Mines, which were last revised in 2009.

States to be richer by Rs 11,000 cr as Centre plans hike in mineral royalties

The NDA government is seeing the hike in royalty rates as being crucial to Centre-State relations.