Govt imposes anti-dumping duty

NMDC likely to hike iron ore prices by 3pc

New Delhi: State-run NMDC is likely to raise iron ore prices by three per cent next week for the January-March quarter,a move which could prompt domestic steel makers like JSW and Tata Steel to increase prices in the New Year. “NMDC may increase prices of iron ore by 3 per cent from January,” an official of the company said on conditions of anonymity. The official added that “the move is due to a rise in demand and squeeze in global supplies”. NMDC chairman and managing director Rana Som said the prices would be decided by the pricing committee next week. “

‘Govt should open up uranium exploration’

Kolkata: Reliance Industries has urged the government to open up domestic uranium exploration and mining in line with NELP,to increase domestic output to reduce dependence on import of the metallic element.“When India will have to depend on nuclear power in future and supply will continue to be vulnerable,there should a policy by which the private sector should be allowed to explore and mine uranium in India,” Reliance Industries president (operations) Atul Chandra said. He believed that opening up the sector to the private sector with proper safeguards would help the country in uranium exploration.

RCF doing due diligence on Russian mine

NEW DELHI: State-owned Rashtriya Chemicals and Fertilisers is conducting due diligence on a proposal to acquire a 25 per cent stake in a rock phosphate mine owned by Russian fertiliser-maker Acron Group for $366 million. “We have signed a confidentiality agreement with Acron Group to acquire 25 per cent equity in the Oleniy Ruchey rock phosphate mine in Russia. Acron is asking $366 million for the stake. We are carrying out due diligence,” a top RCF official said. Acron had secured the rights to develop the mine through an auction and the license was issued in 2008. Rock phosphate is a key raw material in the manufacture of fertilisers like di-ammonium phosphate and single super phosphate.