The government could redistribute these mines either through new auctions, or transfer them to state -owned companies to increase the production of iron ore, according to a higher government official and managers in the field, all of whom spoke of the state of anonymity.
A few steps to strengthen the supply of iron red, including the auction of approximately 20 million tons of ore located in the places before training and expanding the state capacity of NMDC, was discussed last week at a university interdisciplinary meeting. Minister Union Commerce Minister Piyush Goyal and Union Mines Minister G. Kishan Reddy, among other things, took part in a meeting, according to the head of the industry that was part of the meeting. NMDC, the largest Indian iron ore manufacturer, had a mining capacity of 55 million tonnes on March 31.
India seeks to increase the reserves of iron ore and, depending on the expansion of the steel, to expand the development of infrastructure and speed up economic growth.
At the 26th August meeting, in which higher trade union ministers were present, government officials Odisha and the highest representatives of the mining and steel industry warned the center of strict action, including the forfeiture of rent, against companies that won mining auctions, but did not start operations.
Proposed export duties
Among the measures that were discussed to expand the domestic availability of iron ore were the potential 20% of the export duties since October, unless the production of iron ore increased and the prices remained high. India currently collects zero exports to iron ore with low degree and charges 30% tax for iron ore of high quality.
The meeting was attended by experts in industry and representatives of the best domestic steel manufacturers such as Sajjan Jindal Jesw Steel, Jindal Stainless LTD (JSL), ArcelorMittal Nippon Steel India (AM/NS India) Dilip Oommen and other main miners.
E -Maly sent to the Ministry of Trade, JSW Steel, Tata Steel, JSL, Amns India and OMC have not caused any answer.
Indian iron ore production increased in FY25 by 5% to 289 million tons, according to data from a large mint, market intelligence company. It was just over half of the 460 million tons allowed on the basis of environmental permits. Since 2015, about 135 min of iron ore has been auctioned, but only about 35 is functional.
Odisha, Chhattisgarh, Karnataka, Jharkhand and Maharashtra are in India the top five iron ores.
At a meeting of the government official, he quoted that Goyal expressed concern about the rising price of the Iron Ruda and asked the leaders of the industry to take all the necessary steps, including the growing offer to reduce them by October, and noted that the increase would inflate steel prices.
Increasing the offer could help reduce the cost of raw materials and soften steel prices, allowing dopmestic manufacturers to fight cheap imports from China, Japan, Vietnam and South Korea.
Export potential
While he unveiled the Bharat Buildcon 2026 exhibition on 29 August, Goyal emphasized the huge export potential in steel and iron Ruda and noted that India could export 50 million tons of steel every year and strengthen their export basket with high quality and competing products.
In April this year, Prime Minister Narendra Modi outlined 25 million tonnes of steel exports compared to 4.85 million tonnes in FY25.
“The production of iron ore in the ground grew around 4-5% Cagr in recent years, while steel production grew at a faster rate of 8-9% Cagr. Mint.
Indian National Steel Policy has set the objective of 300 million tons of steel per year by 2030. According to policy, the demand for Železná Ruda is expected to be approximately 437 million tonnes by 2030. The current demand is about 255–260 million tons per year.
“The intention is to build India as one of the most efficient nations producing steel worldwide. After the auction where the 100%100%bonuses, the cost of iron ore has increased significantly, which is more expensive for this industry,” Goel said.
According to the order signed by the Ministry of Down of 28. The Committee will meet every 15 days. It is chaired by Sanjay Lohiya, another secretary of the ministry mines, including representatives of the Ministries of the Environment, Trade and Coal, as well as the Plach, JSW Steel, Jindal Steel, OMC, Indian Steel Association, NMDC. Mint saw a copy of the order.
(Tagstotranslate) iron ore
