A B Pvt Ltd is part of the Gainda Mull Hem Raj (SHIMLA) group. It was established in the year 1983, at Parwanoo, a small industrial town located in District of Solan and in the
JSW Steel has won five iron ore mines in Karnataka which has a total estimated reserve of 111 million tonnes. The company has also won Moitra coking coal mine through an auction in Jharkhand. The mine has total extractable coal reserve of around 30 MT. The iron ore mines belongs to the category of 'C'. It will develop two mines of 0.71 mtpa capacity by end of financial year 2017-18. The company is in the process of seeking all statutory clearances for commencement of mining operations. The company believes this will enhance its raw material security.
India is planning to master technology to produce CRGO (cold rolled grain oriented) steel which is currently used for static motors such as transformers. The value of CRGO steel is five times that of hot-rolled steel. Currently, the steel is imported into the country. To overcome this handicap, steel ministry along with National Metallurgical Laboratories, Department of Scientific Industrial Research, Tata Steel and RINL are making efforts to produce the steel in India. A pilot project is being launched in NML premises in Jamshedpur after a detailed engineering and project management report prepared by Mecon.
Indian government has reduced the export duty on iron ore pellets to zero from five per cent, a move that will make the commodity more competitive amid subdued demand and weakening prices. In 2014 it had levied a five per cent export duty on iron ore pellets, which are value-added products of leftover material or low grade iron ore and are used in steel-making. Steel and its related raw material market is undergoing a tough time on account of subdued demand and high production, which is adversely impacting the prices.
Besides, fall in demand in China, the worlds? biggest metal consumer, is leading to the country dumping excess steel and other finished products in consuming countries, including India, a move that has impacted the top and the bottom-line of the mining and steel companies.