September 5, 2009: Essar Group has announced the appointment of Malay Mukherjee as chief executive officer of its steel business
August 21, 2009: Stainless steel major JSL Ltd's application for restructuring Rs 6,500 crore of debt was admitted in the Corporate Debt Restructuring (CDR) cell, at a lenders' meet on August 11, the company informed the stock exchanges today after the lenders cleared the minutes of the meeting.
August 21, 2009: Tata Steel-owned Corus Group plans to reopen its Llanwern hot-rolled strip plant in South Wales temporarily to meet fresh demand.
August 20, 2009: Iron ore miners are protesting alleged ambiguity in the government's method for calculating the 10 percent ad valorem royalty notified on August 13.
August 14, 2009: Paving the way for SAIL to go ahead with re-tendering to set up a blast furnace in Bhilai, the Durg District Court has dismissed a petition of Posco E&C, which had lost a construction order from the Indian firm due to alleged delay in signing the contract.
August 14, 2009: Revenues from iron ore for states such as Orissa is expected to go up substantially following the decision of the Cabinet Committee of Economic Affairs (CCEA) to levy royalty on iron ore on an ad valorem basis.
August 14, 2009: Steel Authority of India Ltd, the country's biggest domestic steel maker, hopes to get iron ore mining licence in a key state that will help boost output, company officials said on Thursday.
August 13, 2009: Faced with a huge shortage of base metal scraps due to a sudden ban on scrap imports, the Mumbai-based Bombay Metal Exchange (BME) and the Bombay Non-Ferrous Metals & Scrap Merchants Association (BNFMSMA) have urged the government to repeal the move.
August 13, 2009: Uttam Galva Steels, the value-added steel producer, has decided to increase galvanised and cold-rolled (CR) steel prices by Rs 2,000 a ton, marking the second hike this month.
August 12, 2009: Steel companies' results failed to shine in the quarter ended June, despite a decent 5 percent rise in domestic sales, a 10-15 percent rise in steel prices from the recent lows and around 30-50 percent decline in costs of raw material.
August 12, 2009: Tata Steel said that it has reduced prices of some of its products primarily consumed by the construction sector by up to Rs 1,500 per ton in view of the prevailing market scenario.
August 11, 2009: Indian iron ore miners have always shown a distinct preference for trade in the spot market rather than entering into yearly contracts with their clients on benchmark rates.
August 11, 2009: Strong steel prices in China boosted benchmark spot prices of iron ore from India to around $115 a ton, including cost and freight, but the offers were for higher-grade ores with 63.5 percent iron content.
August 11, 2009: Tata Group patriarch Ratan Tata has said the next 12-18 months would likely be "difficult and challenging" for Tata Steel, but hopes that it would come out stronger from the difficult period to become a more cost- effective manufacturer of the alloy.
August 11, 2009: Tata Steel is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure raw material security for its European operations.
August 11, 2009: Robust demand from automobile and consumer durable sectors led to increased production and consumption of steel during April-July period this fiscal.
August 10, 2009: The Congress-led government is increasing the royalties on non-coal minerals, including iron ore, to 10 percent, under pressure from mineral-rich states such as Orissa, Jharkhand, Karnataka and Rajasthan.
August 10, 2009: The Karnataka government is planning to develop a 300-km 'steel corridor', and the state expects this project to attract investments worth Rs 20,000 crore from steel majors. The corridor, which is expected to create 200,000 direct and indirect jobs, is planned around the iron ore-rich Bellary-Hospet area in eastern Karnataka.
August 10, 2009: State-owned NMDC, India's biggest mining company, will tap the capital market in two phases.
August 10, 2009: The Andhra Pradesh Government is contemplating to float a joint venture company with equal stake from Andhra Pradesh Mineral Development Corporation (APMDC) and National Mineral Development Corporation (NMDC).
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