INDUSTRY UPDATES On 20th November, 2012

On 20th November, 2012
Govt decides to deallocate coal mine jointly given to 3 cos.
Acting on the recommendations of the Inter-Ministerial Group on coal blocks, the government has decided to deduct or forfeit bank guarantees to the tune of Rs 25.7 crore as the case may be, involving 11 firms for sitting idle on coal blocks allocated to them for captive use.

The Coal Ministry has asked for forfeiture of Bank Guarantee (BG) of Rs 11.8 crore with regard to Gondhkari coal block jointly allotted to Maharashtra SeamlessBSE 0.11 %, Dhariwal Infrastructure and Kesoram Industries LtdBSE -0.33 %.

"Accordingly, Gondkhari coal deallocated and bank guarantee amounting to Rs 11.87 crore furnished by the allocatee companies is forfeited and be encashed," the coal ministry said in a letter dated November 15 to Maharashtra Seamless, Dhariwal Infrastructure and Kesoram Industries. The companies whose BG has been ordered for deduction includes, Grasim IndustriesBSE -0.64 %, Gujarat AmbujaBSE -0.41 % Cements, Lafarge India, among others.

The Inter-Ministerial Group (IMG) has concluded the scrutiny of coal blocks allotted to private firms and last month the government had accepted its recommendations for de-allocation of 13 mines and deduction of bank guarantees of 14 allottees. The IMG has also recommended de-allocation of eight such blocks alloted to public sector firms after scrutiny of 19 cases.

A total of 58 mines were issued show-cause notices for their failure to develop blocks within stipulated timeline. The government had formed the IMG in July to review progress of coal blocks allocated to firms for captive use. The CAG had estimated that undue benefits to the tune of Rs 1.86 lakh crore might have accrued to private firms on account of allocation of 57 mines to them without auction.
(Economic Times)

China continues to remain the top importer of iron ore from Goa

China continues to remain the top importer of iron ore from Goa. Statistics complied by the Goa mineral ore exporters association indicate that over 89% of Goa's registered ore was exported to China in 2011-2012.

Over 38 million tonnes of Goa's registered iron ore was exported in 2011-2012, out of which over 34 million tonnes was exported to China.

Goa exports iron ore to China, Japan, South Korea, Europe and the United Arab Emirates. Besides China, Goa's mining companies export over 2 million tonnes to Japan, over 1 million to South Korea, 3,79,075 tonnes to Europe and 52,500 tonnes to the UAE.

GMOEA statistics said that Fomento resources pvt ltd, Prime mineral exports pvt ltd and Sociedade de Fomento industrial pvt ltd have exported 4,50,343 tonnes of non Goa iron ore to China.

Out of 28 mining companies, which were involved in exports of Goa registered ore, only 5 companies exported ore to Japan. Between, 2003 to 2005 Japan was the number one importer of Goa ore which was replaced by China, after the mining boom in the state.

All 28 companies exported Goan registered iron ore to China. Sesa Goa Ltd and Sesa Resources Ltd exported over 11 million tonnes and Fomento's Sociedade de Fomento Industrial Pvt Ltd, Prime Mineral Exports Pvt Ltd, Fomento Exports Pvt Ltd, and Infrastructure Logistics Pvt Ltd exported over 7 million tonnes.

Meanwhile, VM Salgaocar and Bro PVT Ltd exported over 3 million tonnes, Chowgule and Company Pvt Ltd exported over 1 million tonnes, Timblo Enterprises Limited exported over 2 million tonnes, Panduronga Timblos Industries exported over 1 million tonnes to China.
(Steel Guru)
NMDC aims 48 million tonnes of iron ore capacity by FY15

Business Standard reported that NMDC plans to increase its iron ore production capacity to 48 million tonne per annum by 2014-15 from current installed capacity of 32 million tonne per annum.

The proposed capacity expansion would help it feed its upcoming steel making plant in Chhattisgarh and also partly meet domestic steel makers growing demand. In a recent presentation, NMDC said that it hopes to start one deposit at Balidala in Chhattisgarh with an annual capacity of 7 million tonne per annum by 2013.

Work is also going on to develop Kumaraswamy deposits in Karnataka. NMDC has not given any expected time-line for the operations from this deposit to start. NMDC said that "The Kumaraswamy deposit, currently being developed for an annual production of 7 million tonne per annum", adding that an additional 2 million tonne per annum capacity could be developed from existing mines.

The steel industry continues to grow even as rest of the global steel industry is in the middle of a slowdown.

As per the Working Group on steel industry for the 12th Five Year Plan (2012-17), India's crude steel capacity is likely to increase to 149 million tonne by 2016-17 from the level of 78 million tonne.
(Steel Guru)
Iran to open 300000 tonne iron ore concentrates plant

The country’s iron ore concentrate production rose by 8.4% in the H1 of the current Iranian calendar year, which began on March 20th, compared to the same period last year.

On September 3rd, a large iron ore concentrate production unit was inaugurated in Iran’s southeastern Kerman province. The plant has the capacity to produce two million tons of iron ore concentrate per annum.

Mr Mehdi Ghazanfari minister of Mine and Trade Iranian Industry said that Iran holds 2% of the world’s total mineral reserves. The mineral reserves include 12 metal and 36 non metal ores.

Mr Ghazanfari said that some 5,000 mines are being exploited in the country, adding that around 340 million tons of minerals were extracted in the past year, which ended on March 19th.

Meanwhile, Mr Behrouz Borna deputy head of Iran's Geology and Mineral Exploration Organization said that the country ranks first in the Middle East for possessing the region's largest mineral reserves.
(Steel guru)
Zuari to set up $800 MN fertilizer plant in UAE
Fertiliser maker Zuari IndustriesBSE 1.80 % has signed a memorandum of understanding to set up an $800 million manufacturing facility in the United Arab Emirates. The plant in Ras al Khaimah will produce one million tonnes of diammonium phosphate fertiliser a year when it comes onstream, Zuari's adviser on the deal, Alpen Capital, said in a statement on Sunday.

The plant will be Zuari's first manufacturing facility outside India.

Zauri and other Indian fertiliser manufacturers import most of their phosphate from Russia and the Middle East. Indian farms consumed about 7 million tonnes of DAP in the 2011 financial year.
(Economic Times)

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