FirstPost.India reports that iron ore mining in Karnataka will take a minimum of two years to become fully operational after the Supreme Court verdict allowed resumption of mining at category-A & B mines in the state, an industry official has said.
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Platts reported that NMDC Ltd., the state-owned Indian iron ore miner, said its sales and profits in October to December of last year was down more than 20% compared to the previous quarter, and 30% lower than the previous year.
Mining Weekly reported that the government of India has officially buried its iron ore mining windfall tax proposal despite the need for it in some of the country’s provinces.
Mining Weekly reported that South Africa is now the number 3 iron ore supplier for China, providing roughly 40.6 million tons in 2012, which was 12% higher compared to 2011.
Bloomberg reported Steel Authority of India Ltd. says it will stop work at the Odisha iron ore mine after failing to meet conditions for the use of forest land.
Mining Weekly reported Northern Iron (ASX:NFE) said its suitor Essel Mining has abandoned its takeover plans.
Mining Weekly reported South Africa is the key supplier of coal and iron ore to India as the nation becomes increasingly reliant on exports.
Platts reported Indian steelmakers are beginning to import iron from South Africa.
Bloomberg reported Jindal Steel & Power Ltd. (BOM:532286) is nearing a deal to buy an iron ore mine in West Africafor at least $2 billion after a failed venture in Bolivia and higher costs in India curb production.
Reuters reported the Supreme Court has suspended iron ore transport in Goa and asked for a report into illegal mining in the state in four weeks.