SteelMin urges SC to relax mining limits in Karnataka

Seeking its impleadment in a pending matter before the green bench of the court,the ministry has contended that the limit of 30 million metric tonne MMT fixed earlier was quite insufficient to meet the annual requirement of the industry,dependent on iron ore production from Karnataka.

India,the 4th largest producer of steel in the world,is likely to become the 2nd largest globally…but the industry has suffered on account of regional shortage of iron ore,particularly in Karnataka, it said. Pointing out that 32 sponge iron plants have stopped operations,it said,the production of finished steel had seen a growth of meager 2.5 per cent in the year 2012-13 in country while consumption has grown up by 3.25 per cent.

The capacity utilisation of Indian steel industry has touched all time low at 81 per cent. Severe shortage of iron ore in Karnataka has also contributed to this low capacity utilisation, the application read.

RIL-BP,IOC,ONGC vie for Mundra pie

New Delhi: Reliance Industries-BP combine,Indian Oil Corp IOC and Oil and Natural Gas Corp ONGC are in the race for picking up 25 per cent stake in Gujarat governments planned LNG import terminal at Mundra,officials said on Tuesday. India Gas Solutions Pvt Ltd the equal joint venture between the Mukesh Ambani-led firm and Europes second largest oil firm is among the three shortlisted by Gujarat government. IOC and ONGC are the other two firms shortlisted,officials said curing the 8th Asia Gas Partnership Summit. PTI