With iron ore prices set to firm up from January 2020 and both steel production and prices starting to move up from November, the country’s largest iron ore mining company NMDC Ltd has a lot going for it to cash in on the expected buoyancy.
The Hyderabad-based State-owned mining company, whose focus has been on iron ore mining, has also received a shot in the arm with the Union Coal Ministry allocating two coal blocks — the Rhone and Tokisud North — both located in Hazaribagh district of Jharkhand, its iron ore mining leases in Chhattisgarh have been renewed three months ahead of the scheduled expiry and it has secured nod from the government for expansion of the Kumaraswamy mines in Karnataka from 7 MTPA to 10 MTPA.
