According to the market sources, Serajuddin- Odisha’s major merchant iron ore miner has increased its iron ore production sharply by 38% to 1.5 MnT in Jul’19 as against 1.09 in Jun’19. As per data maintained with SteelMint, Serajuddin recorded production of 1.68 MnT in Mar’15. Hence the company’s output reported record high and reached over four years high.
The miner started operations at its pit earlier this year which was closed for quite some time owing to the technical issue.
Last week the miner lowered iron ore lump offers by INR 300/MT. Current offers for 5-18mm at INR 3,700/MT (ex-mines, including Royalty, DMF & NMET).
Major mining leases in Odisha lapsing by March 31, 2020, include the ones held by Rungta Mines, KJS Ahluwalia, Serajuddin & Company, Kaypee Enterprises, Kalinga Mining Corporation, Mid East Integrated Steel Ltd, KN Ram, RB Das, Tarini Prasad Mohanty, KC Pradhan, and Lal Traders.
Serajuddin recorded an iron ore production at 8.07MnT, in FY’19 as against 9.03 MnT in FY’18. Serajuddin has an EC limit of 15.15 MnT p.a.
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