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Shares of NMDC, steel stocks faced selling pressure on December 18 as the Siddaramaiah-led Karnataka government tabled a bill to tax mines and mining land. NMDC, JSW Steel, Tata Steel, SAIL stocks were trading in red, with NMDC stock bearing the brunt of the fall by falling 5% as CNBC-TV18 reported that the Karnataka government might hike duty on iron ore. At 12:30 pm on December 18, NMDC shares were trading 6% lower at Rs 213.49 apiece, the biggest fall in 18 weeks. Karnataka is an important ...Read More >
Tata Steel is bolstering its iron ore supply for its planned 40 MTPA steel production by 2030. With four mine leases expiring in 2030, the company is operationalizing two new mines and negotiating with NMDC and OMC for additional ore. These strategies aim to secure the over 60 MT of iron ore required for the expanded steel capacity.Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its dom ...Read More >
NEW DELHI: Mining stocks were trading higher on Thursday at 10:53AM MOIL Ltd.(up 2.81%), Oriental Trimex Ltd.(up 1.95%), Sandur Manganese & Iron Ores Ltd.(up 1.74%), Pokarna Ltd.(up 1.65%), Ashapura Minechem Ltd.(up 1.12%), KIOCL Ltd.(up 1.05%), The Orissa Minerals Development Company Ltd.(up 0.87%), NMDC Ltd.(up 0.51%), Madhav Marbles & Granites Ltd.(up 0.38%) and Gujarat Mineral Development Corporation Ltd.(up 0.35%) were among the top gainers. 20 Microns Ltd.(down 2.00%) and Lexus Granito(I ...Read More >
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