Mumbai, India
Rungta Mines Ltd was the largest Iron ore exporters from India during second quarter (July-Sep 2013), by exporting 1.3 MnT of the raw material from various ports. It majorly exported 4,86,000 MT Iron ore from Vizag port followed by 3,69,000 MT from Paradip port, 3,07,000 MT from Haldia port, 1,00,000 MT from Dhamra port and 65,000 MT from Gangavaram port.
Iron Ore Exports by Rungta Mines Ltd (Total Exports 13,27,000 MT)
Source- SteelMint,
Figures in '000 tonnes
NMDC, India's state owned and largest producer of iron ore, which has long term contracts with Japanese and Korean steel mills, was the second largest exporters in Q2 by exporting 6,77,000 MT Iron ore from Vizag port. NMDC exports through MMTC (Mineral and Metal Trading Corporation).
NMDC was followed by Bagadiya Brothers P Ltd, a merchant miner, who exported around 4,53,000 MT Iron ore from various ports. Bagadiya Bros. exported 2,35,000 MT from Paradip port, 33,000 MT from Vizag port and 1,00,000 MT from Dhamra port.
Rungta Mines Ltd (RML) is a flagship company of S R Rungta Group which is in mining sector from past 6 decades and has iron ore mining operations in Odisha and Jharkhand. It has a production capacity of around 12-13 million tonnes.
Iron ore exports from India have been declining on Y-o-Y basis when compared to last couple of years. In FY 12 total Iron ore exports were at 61.7 MT which plunged to 18.08 MnT in FY13. Exporters now expect the total exports of FY14 to touch maximum level of around 13-14 MnT.
Iron ore exports in first half of FY14 is 8.2MnT which indeed is a very low amount when compared to preceding years total exports quantity specially after Supreme court banned mining in Goa and restricted output in Karnataka.
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