Out of the five iron ore mines won in the Karnataka block auction in Oct’16, JSW has initiated production at one of its Tungabhadra mines in Feb’18, and expects to start production at another block shortly. The remaining 3 iron ore mines are also likely to start production towards end of July’18. The total iron ore production from all these mines is expected to be around 4.34 MnT.
The delay in obtaining necessary forest clearances resulted in delaying on commencement of iron ore production at these mines.
According to market sources report to SteelMint, JSW Steel will bid for upcoming 2 iron ore blocks in Odisha and 5 more iron ore blocks in Karnataka. It has already acquired 5 mines in Oct’16 auctions. The company aims to acquire 15 iron ore blocks.
In 1st phase of auctions conducted in Oct’16, out of 7 “C” category iron ore mine blocks that witnessed aggressive bidding from the participants, JSW Steel bagged five iron ore mines namely – Rama Rao Paol, Hothur Traders, VS Lad & Sons and two leases of Tungabhadra Minerals.
JSW Steel – India’s largest steel maker crude steel output increased to 16.27 MnT in FY’18, highest since inception as against 15.8 MnT in FY’17. On monthly basis the output spurred to 1.52 MnT in Mar’18, up 14% against 1.33 MnT in Feb’18.
The company’s iron ore sourcing stood at 33.10 MnT in FY’18, up 11% as against 29.85 MnT in FY’17. In FY18, JSW Steel procured material through Karnataka e-auctions, NMDC (Chhattisgarh), Odisha & Jharkhand mines and through imports.
Leave a Reply