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Iron Ore

Sesa Goa to expand Codli Iron ore mines

Sesa Goa is expanding Codli iron ore mines located at Codli in Sangeum Taluk in South Goa district of Goa from 4.0 mtpa to 7.0 mtpa and its ore beneficiation plant from 1.2 mtpa to 5.0 mtpa. The company has 3 contiguous mining leases i) Maindvolicho Sodo Iro Ore Mine (ML area 99.79 ha, T.C No. 69/51); (ii) Gadia Sodo Iron Ore Mine (ML area 100.0 ha, T.C. No. 126/53); and (iii) Gurmel Iron Ore Mine (ML area 99.76 ha, T.C. No. 70/52). The total mineable reserves is 35.0 mt. The project cost is estimated at Rs. 830 million.

Exploration is to be carried out at Kesari-Phanaswade villages for iron ore

Exploration of iron ore is to be carried out at Kesari-Phansawde Iron Ore Mine located at villages Kesari and Phansawde, in Sawantwadi Taluk, in Sindhudurg Distt., in Maharashtra. The capacity of the mines is to be at 3.0 mtpa. It is to be carried out by a private contractor.

Sesa Goa sees slow demand for iron ore

Iron ore, chief input for producing steel is facing slump as steel producers are cutting production. The trickle down is happening now from real estate to construction to steel to iron ore. Sesa Goa which exports low quality iron ore to China is affected by major steel producers effecting a production cut. World majors like Rio Tinto, Vale had already announced production cut . There is no respite at sight. Chinese government stimulus package is yet to give results.


Iron Ore exports to go down

 With Chinese government stimulus package of 4 trillian Yuan fails to provide immediate relief, more ships to unload iron ore in Chinese ports are on the increase. India, which were exporting 8 million tonnes of iron ore to China is down by 1.5 million tonnes. Indian iron price has also fallen from $85 a tonne to $ 15 a tonne.



Tata Metalliks to do prospecting for iron ore in Maharashtra.

Government of Maharashtra has granted prospecting license to Tata Metalliks in 158 acres in Dongarpal and in Sindhudurg districts. The validity of license will be for two years. By prospecting, the company will assess the quality of iron ore and other minerals in the area. Post prospecting, it may seek mining license to start commercial production. It may be noted Tata Metalliks is the country largest pig iron producer. It is a joint-venture between Tata Steel and WB govt.

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