Thu, Jan05, 2012
HAZIRA (GUJARAT): In an era where low-cost is the buzzword, Essar Steel has more than doubled the capacity of its Hazira steel plant from 4.6 million tonnes per annum to 10 mtpa at an investment of USD 7.5 billion, less than half the industry standard for setting up a facility of this size.
"It took USD 7.5 billion to create a 10-mtpa fully-integrated steel-making facility at Hazira. The investment includes raw material beneficiation, steel-making and distribution. The industry standard is more than twice for putting up a 10-mtpa capacity alone," Essar Group Chief Executive Prashant Ruia told reporters here today.
The plant will have the capability to manufacture steel at a low cost through a series of cost-cutting measures.
Essar Steel began its journey at Hazira in 1989 with a 0.9-mtpa sponge iron-making plant and in the passage of 22 years, gradual expansion of capacity has made the facility one of the top four flat steel producers in the world at a single location.
"We would like to dedicate this plant to the nation. When I first ventured into Hazira, it was my desire to put India on the global steel map and today that dream has come true. Our world-class steel complex is a testament to the hard work put in by the Essar family and our small contribution to the steel industry and India's growth story," Essar Group Chairman Shashi Ruia said in a statement.
The company is already among the lowest cost steel producers in the world through raw material and energy securitisation, Prashant Ruia said, adding that operational efficiencies, throughput enhancement and asset optimisation would move it further down the cost curve.
The Hazira facility combines a DRI, blast furnace and corex technology for making iron, which is later used in the steel-making process through electric arc furnaces. The advantage of having such a combination is that there is no wastage of gas generated through the corex iron-making technology.
As a result, the company generates almost 45 per cent of its captive requirement in the gas-based DRI. Essar Steel has a long-term contract with ONGC for the rest of the gas requirement.
"The cost of labour for per tonne steel-making is just USD 8.2 per tonne. This is only second to USD 5.71 for Baosteel. Even Posco's labour cost for per tonne steel production is higher than us at USD 9.22," Ruia said.
Ruia said the plant is expected to run at 80-85 per cent capacity in the next fiscal and 70-75 per cent of the output would be value-added products, the demand for which is on the rise on account of the fast-growing automobile and FMCG sectors.
(sourced ET)
Showing posts with label Essar steel. Show all posts
Showing posts with label Essar steel. Show all posts
Thursday, January 5, 2012
Essar's ore reserves in Minnesota estimated at 1.77 bn tonnes
Thu, Jan05, 2012
NEW DELHI: Essar Group today said it has emerged as a leading iron ore reserves owner in North America with confirmation that its Minnesota Project contains 1.77 billion tonnes of reserves.
"ESML... has reserves of 1.77 billion metric tonnes, with a grading of 31.78 per cent total iron, along with inferred mineral reserves and resources estimated at 201 million metric tonnes, making it a leading iron ore resource party in the North American Basin," the company said in a statement.
Essar Steel Minnesota LLC (ESML), a private resources company engaged in the development and mining of iron ore, is a part of the Ruias-led USD 17 billion Essar Group.
The company said the reserves were "confirmed by the National Instrument 43-101 Mineral Resources and Mineral Reserves Report by Met-Chem Canada, an internationally renowned consulting engineering firm providing all phases of geology, mining, mineral processing and engineering services."
ESML President and CEO Madhu Vuppuluri said the findings of about two billion tonnes of resources at the project exceeded company's expectations, adding that 95 per cent of the total measured and indicated resources are made up of mineral reserves.
"We believe that our project contains sufficient reserves and resources not only to increase the planned production of iron ore pellets from 4.1 million tonnes to 7 million tonnes (MT) annually, but also will enable us to evaluate options to further utilise our increased mineral resources," he said.
ESML's project is a taconite iron ore project located at Nashwauk, Minnesota, in the western part of the Mesabi Range, covering an area of approximately 19,200 acres.
"All permits for the construction and production of 4.1 MT of iron ore pellets annually have been received. Applications have been filed for a second phase expansion to add additional 2.9 MT of iron ore pellets production annually, bringing the annual capacity to 7 MT," the statement said.
Phase I construction of the iron ore mine, crushing facilities, concentrator and pellet plant commenced in October, 2010.
(sourced ET)
NEW DELHI: Essar Group today said it has emerged as a leading iron ore reserves owner in North America with confirmation that its Minnesota Project contains 1.77 billion tonnes of reserves.
"ESML... has reserves of 1.77 billion metric tonnes, with a grading of 31.78 per cent total iron, along with inferred mineral reserves and resources estimated at 201 million metric tonnes, making it a leading iron ore resource party in the North American Basin," the company said in a statement.
Essar Steel Minnesota LLC (ESML), a private resources company engaged in the development and mining of iron ore, is a part of the Ruias-led USD 17 billion Essar Group.
The company said the reserves were "confirmed by the National Instrument 43-101 Mineral Resources and Mineral Reserves Report by Met-Chem Canada, an internationally renowned consulting engineering firm providing all phases of geology, mining, mineral processing and engineering services."
ESML President and CEO Madhu Vuppuluri said the findings of about two billion tonnes of resources at the project exceeded company's expectations, adding that 95 per cent of the total measured and indicated resources are made up of mineral reserves.
"We believe that our project contains sufficient reserves and resources not only to increase the planned production of iron ore pellets from 4.1 million tonnes to 7 million tonnes (MT) annually, but also will enable us to evaluate options to further utilise our increased mineral resources," he said.
ESML's project is a taconite iron ore project located at Nashwauk, Minnesota, in the western part of the Mesabi Range, covering an area of approximately 19,200 acres.
"All permits for the construction and production of 4.1 MT of iron ore pellets annually have been received. Applications have been filed for a second phase expansion to add additional 2.9 MT of iron ore pellets production annually, bringing the annual capacity to 7 MT," the statement said.
Phase I construction of the iron ore mine, crushing facilities, concentrator and pellet plant commenced in October, 2010.
(sourced ET)
Essar to use low-grade iron ore fines at Hazira
Thu, Jan05, 2012
Hazira: The $15 billion Essar group will become one of the first steel mills in India to use low-grade iron ore fines to make steel at the Essar Steel Hazira plant whose capacity has now been expanded to 10 million tonnes per annum from seven million tonnes per annum.
Prashant Ruia, group CEO at Essar group said, “Most of our raw material will be low-grade fines which is much cheaper. A bulk of our iron ore needs have been secured through off-take agreements with key players such as NMDC and captive mines in Jharkhand and Chhatisgarh. In addition, the iron ore benefication plants have been set up by the company to facilitate usage of low-grade iron ore fines abundantly available in the country.”
So far, iron ore fines have either been exported or dumped along with overburden, as Indian steelmakers have locked the technology to process this inferior grade raw material into iron.
Essar Steel has licensed the technology for iron ore benification from Sweden-based Metso and for pellets it has sourced technology from Germany-based Lurgi. The company refused to comment on the price it has paid for acquiring the technology. As per the current market prices using iron ore fines will help the company to reduce cost by 60 per cent, a senior company official said Ruia.
For its energy requirements, Essar has long-term power purchase agreements with Essar Power and will soon have access to cheaper coal based power from its captive plants too.
Essar is also producing ore pellets through benefication of iron ore. Every million tonnes of steel requires 1.4 million tonne pellet for manufacturing. Essar Steel will have 20 million tonne pellet making capacity operational once its Orissa benefication plant goes on stream in two equal phases starting from March 2012. The final six million tonnes at Orissa will be operational in a year’s time.
(sourced MyDigaltalFC)
Hazira: The $15 billion Essar group will become one of the first steel mills in India to use low-grade iron ore fines to make steel at the Essar Steel Hazira plant whose capacity has now been expanded to 10 million tonnes per annum from seven million tonnes per annum.
Prashant Ruia, group CEO at Essar group said, “Most of our raw material will be low-grade fines which is much cheaper. A bulk of our iron ore needs have been secured through off-take agreements with key players such as NMDC and captive mines in Jharkhand and Chhatisgarh. In addition, the iron ore benefication plants have been set up by the company to facilitate usage of low-grade iron ore fines abundantly available in the country.”
So far, iron ore fines have either been exported or dumped along with overburden, as Indian steelmakers have locked the technology to process this inferior grade raw material into iron.
Essar Steel has licensed the technology for iron ore benification from Sweden-based Metso and for pellets it has sourced technology from Germany-based Lurgi. The company refused to comment on the price it has paid for acquiring the technology. As per the current market prices using iron ore fines will help the company to reduce cost by 60 per cent, a senior company official said Ruia.
For its energy requirements, Essar has long-term power purchase agreements with Essar Power and will soon have access to cheaper coal based power from its captive plants too.
Essar is also producing ore pellets through benefication of iron ore. Every million tonnes of steel requires 1.4 million tonne pellet for manufacturing. Essar Steel will have 20 million tonne pellet making capacity operational once its Orissa benefication plant goes on stream in two equal phases starting from March 2012. The final six million tonnes at Orissa will be operational in a year’s time.
(sourced MyDigaltalFC)
Sunday, August 7, 2011
NMDC 'ready' to raise iron ore supplies to meet demand
August 7, 2011 | By Press Trust of India
New Delhi: Seeking to allay fears of iron ore supply shortages, state-run miner NMDC today said it is willing to "substantially" increase the raw material availability in this quarter to meet the rising demand.
Moreover, the company will take a decision on Tuesday, in consultation with the Steel Ministry, on modalities of raising the mineral supplies to steel and allied industry, NMDC Chairman Rana Som said.
He indicated that preference may be given to customers having long-term contracts and that the company is looking at production of about 7 million tonnes of iron ore in this quarter, 15% more than April-June period.
The move of the state-run miner comes in the backdrop of an apex court order of Friday, which allowed mining of iron ore in Karnataka's Bellary region to NMDC only and fixed the quantity at one million tonnes per month.
"We are gearing up to meet the demand and will increase supplies substantially to meet the shortages. We will take a decision on modalities of supply on August 9, after consulting the Steel Ministry," Som said, adding that "long-term contracts have to be honoured but modalities have not been decided yet".
JSW Steel, Rashtriya Ispat Nigam, Essar Steel, Lanco Group are some of the companies having long-term contracts with the Navratna firm.
Following Supreme Court ban on the mineral mining late last month, the iron and steel industry in South India has gone for a toss and a large number of small steel mills and sponge iron ore manufacturers are on the verge of closure due to severe shortage of iron ore.
Even big producers like JSW Steel, which has a 10 million tonnes per annum steel plant in the region, has to cut its production by 30-35 per cent due to the shortages.
However, in a partial lifting of ban, the apex court on Friday allowed NMDC to produce one million tonnes of iron ore per month from Bellary to meet the supply shortages.
Still, the iron and steel industry said the move will not be "adequate" to meet the demand-supply mismatch.
"The Supreme Court order will bring immediate relief for the industry in the region but it will not be adequate. Steel and allied industries' total production is about 21 MTPA, which means 33 MTPA of iron ore or 2.75 MT iron ore per month is required," JSW Steel's Joint Managing Director MVS Seshagiri Rao said.
He added that of this, JSW's Vijaynagar plant requires 16.5 MTPA iron ore or 1.4 MT per month.
"We are talking to NMDC on sourcing of iron ore and will be able to give you the future guidance only after hearing from them," Rao said in reply to a question on whether the company will cut its production targets of 9 MTPA for this fiscal.
New Delhi: Seeking to allay fears of iron ore supply shortages, state-run miner NMDC today said it is willing to "substantially" increase the raw material availability in this quarter to meet the rising demand.
Moreover, the company will take a decision on Tuesday, in consultation with the Steel Ministry, on modalities of raising the mineral supplies to steel and allied industry, NMDC Chairman Rana Som said.
He indicated that preference may be given to customers having long-term contracts and that the company is looking at production of about 7 million tonnes of iron ore in this quarter, 15% more than April-June period.
The move of the state-run miner comes in the backdrop of an apex court order of Friday, which allowed mining of iron ore in Karnataka's Bellary region to NMDC only and fixed the quantity at one million tonnes per month.
"We are gearing up to meet the demand and will increase supplies substantially to meet the shortages. We will take a decision on modalities of supply on August 9, after consulting the Steel Ministry," Som said, adding that "long-term contracts have to be honoured but modalities have not been decided yet".
JSW Steel, Rashtriya Ispat Nigam, Essar Steel, Lanco Group are some of the companies having long-term contracts with the Navratna firm.
Following Supreme Court ban on the mineral mining late last month, the iron and steel industry in South India has gone for a toss and a large number of small steel mills and sponge iron ore manufacturers are on the verge of closure due to severe shortage of iron ore.
Even big producers like JSW Steel, which has a 10 million tonnes per annum steel plant in the region, has to cut its production by 30-35 per cent due to the shortages.
However, in a partial lifting of ban, the apex court on Friday allowed NMDC to produce one million tonnes of iron ore per month from Bellary to meet the supply shortages.
Still, the iron and steel industry said the move will not be "adequate" to meet the demand-supply mismatch.
"The Supreme Court order will bring immediate relief for the industry in the region but it will not be adequate. Steel and allied industries' total production is about 21 MTPA, which means 33 MTPA of iron ore or 2.75 MT iron ore per month is required," JSW Steel's Joint Managing Director MVS Seshagiri Rao said.
He added that of this, JSW's Vijaynagar plant requires 16.5 MTPA iron ore or 1.4 MT per month.
"We are talking to NMDC on sourcing of iron ore and will be able to give you the future guidance only after hearing from them," Rao said in reply to a question on whether the company will cut its production targets of 9 MTPA for this fiscal.
Thursday, July 21, 2011
Indian steel industry plans mega investment on iron ore pelletization
Wednesday, 13 Jul 2011 |BS
BS reported that to address the several restrictions on iron ore exports, many mining and steel companies have decided to invest in the processing of low grade iron ore into pellets, the processed raw material used for making steel.
With the restrictions, steel and mining majors such as JSW Steel, Essar Steel, Ispat Industries and NMDC have decided to invest in making pellets to feel steel plants. Their combined plans total INR 8,000 crore in the next four years, to establish pelletisation capacity of 40 million tonnes a year.
Mr Haresh Melwani CEO of H L Nathurmal & Co a Goa based iron ore miner and exporter said that “The industry requires INR 20,000 crore to process the entire amount of exportable fines, which looks impossible at this point in time unless steel mills take an aggressive initiative.”
Mr RK Sharma secretary general of FIMI said that “The government is inviting a big risk by forcing iron ore miners to set up pelletisation plants to convert iron ore fines into pellets. Despite incurring a cost on conversion, miners are unlikely to get adequate remuneration, as pellets need to compete with high grade iron ore. Steel mills may prefer to use lumps instead of pellets at a premium.”
The Indian government has already levied 10% ad velorem royalty on iron ore mining and this is likely to be doubled. Also, the proposed changes in mining rules call for an amount equal to the royalty to be paid for the welfare of project affected people. The government has also levied a 20% export duty.
BS reported that to address the several restrictions on iron ore exports, many mining and steel companies have decided to invest in the processing of low grade iron ore into pellets, the processed raw material used for making steel.
With the restrictions, steel and mining majors such as JSW Steel, Essar Steel, Ispat Industries and NMDC have decided to invest in making pellets to feel steel plants. Their combined plans total INR 8,000 crore in the next four years, to establish pelletisation capacity of 40 million tonnes a year.
Mr Haresh Melwani CEO of H L Nathurmal & Co a Goa based iron ore miner and exporter said that “The industry requires INR 20,000 crore to process the entire amount of exportable fines, which looks impossible at this point in time unless steel mills take an aggressive initiative.”
Mr RK Sharma secretary general of FIMI said that “The government is inviting a big risk by forcing iron ore miners to set up pelletisation plants to convert iron ore fines into pellets. Despite incurring a cost on conversion, miners are unlikely to get adequate remuneration, as pellets need to compete with high grade iron ore. Steel mills may prefer to use lumps instead of pellets at a premium.”
The Indian government has already levied 10% ad velorem royalty on iron ore mining and this is likely to be doubled. Also, the proposed changes in mining rules call for an amount equal to the royalty to be paid for the welfare of project affected people. The government has also levied a 20% export duty.
JSPL second time unlucky for Rocklands
Thursday, 21 Jul 2011
(sourced from BS)
Jindal Steel and Power Ltd has once again failed to acquire Australian coking coal miner Rocklands Richfield, despite a revised offer price and extended deadlines. It managed to buy 12.56% stake, raising its holdings to 27.29%.
Mr Sushil Maroo finance director of JSPL said that “Our aim was to get over 50% stake in the company and clearly that hasn’t happened.”
Mr Maroo was non committal about JSPL’s Rocklands acquisition plans.
He said that “It’s not necessary that every effort gets translated into an acquisition. We are not keen on paying more to acquire the company at this stage and hence, are not pursuing it any further.”
In 2009 when JSPL tried to acquire Rocklands for the first time, it was locked in a three way battle with Essar Steel of India and Meijin Steel of China. Jindal was then ready to pay USD 0.56 per share. Essar bowed out early and Jindal managed to nudge the Chinese company, but the talks with Rocklands fell abruptly and no explanation was given.
Mr Sushil Maroo finance director of JSPL said that “Our aim was to get over 50% stake in the company and clearly that hasn’t happened.”
Mr Maroo was non committal about JSPL’s Rocklands acquisition plans.
He said that “It’s not necessary that every effort gets translated into an acquisition. We are not keen on paying more to acquire the company at this stage and hence, are not pursuing it any further.”
In 2009 when JSPL tried to acquire Rocklands for the first time, it was locked in a three way battle with Essar Steel of India and Meijin Steel of China. Jindal was then ready to pay USD 0.56 per share. Essar bowed out early and Jindal managed to nudge the Chinese company, but the talks with Rocklands fell abruptly and no explanation was given.
(sourced from BS)
Monday, June 13, 2011
Essar Group plans more overseas coal, iron ore asset buys - report
Mon Jun 13, 2011 8:43am IST
MUMBAI (Reuters) - Conglomerate Essar Group plans to acquire more coal and iron ore assets in Indonesia, Australia and Africa as it seeks to meet robust demand in India, Bloomberg reported citing Chief Executive Officer Prashant Ruia.
The company is looking at investing overseas to access natural resources, Ruia told Bloomberg TV in an interview at the World Economic Forum on East Asia in Jakarta.
Essar Group could not immediately be reached for comment.
Essar Group, is controlled by billionaire brothers Shashi and Ravi Ruia, who also run London-listed Essar Energy and has interests in steel, ports and logistics and telecommunications.
The company is looking at investing overseas to access natural resources, Ruia told Bloomberg TV in an interview at the World Economic Forum on East Asia in Jakarta.
Essar Group could not immediately be reached for comment.
Essar Group, is controlled by billionaire brothers Shashi and Ravi Ruia, who also run London-listed Essar Energy and has interests in steel, ports and logistics and telecommunications.
(Writing by Neha Singh; Editing by Ranjit Gangadharan, sourced Reuters)
Friday, June 3, 2011
2 Indian steel major hike flat steel prices - Report
Friday, 03 Jun 2011
Press Trust of India reported that two leading steel makers, JSW and Essar Steel, have hiked rates for flat products by INR 600 per tonne to INR 1,000 per tonne.
The report cited some company officials as saying that “On the back of rising input costs and strengthening of international prices over the last couple of weeks, there is a case for upward revision of steel prices.”
The report added that However while SAIL has kept prices at last month's levels, TATA Steel is yet to decide on any move. (sourced from PTI)
Press Trust of India reported that two leading steel makers, JSW and Essar Steel, have hiked rates for flat products by INR 600 per tonne to INR 1,000 per tonne.
The report cited some company officials as saying that “On the back of rising input costs and strengthening of international prices over the last couple of weeks, there is a case for upward revision of steel prices.”
The report added that However while SAIL has kept prices at last month's levels, TATA Steel is yet to decide on any move. (sourced from PTI)
Saturday, March 5, 2011
Indian steel and infrastructure firms eying operations in Malaysia
Saturday, 05 Mar 2011
(Sourced from BERNAMA)
Malaysian media reported that several Indian steel makers and infrastructure companies are mulling setting up operations in Malaysia, with high level talks having been initiated on the matter.
As per report, the Essar Group, Srinathji Ispat Ltd and Sagarasia Group of Companies are seriously considering expanding their operations to Malaysia.
Indonesia’s international trade and industry minister Mr Datuk Seri Mustapa Mohamed said at least three Indian companies have approached him in Delhi to study the possibility of establishing a base in Malaysia.
Mr Mustapa said that "They like Malaysia and find it easy to do business in the country. These companies have done some research on their own and are keen to set up their business in Malaysia.
Mr Mustapa told Bernama that "But there are some issues which we need to clarify. They want to bring in skilled labour, want to know the availability of scrap iron and also the tariffs.”
He added that y diversified Essar was interested in infrastructure, power generation, oil and gas. The other two companies are keen on windmill infrastructure, aluminium ladders used in aircraft and scaffolding and steel-related products.
Mr Mustapa further said that "These companies are even interested in setting up a production base for ASEAN in Malaysia. We told them to come with their specific needs and we will assist.”
As per report, the Essar Group, Srinathji Ispat Ltd and Sagarasia Group of Companies are seriously considering expanding their operations to Malaysia.
Indonesia’s international trade and industry minister Mr Datuk Seri Mustapa Mohamed said at least three Indian companies have approached him in Delhi to study the possibility of establishing a base in Malaysia.
Mr Mustapa said that "They like Malaysia and find it easy to do business in the country. These companies have done some research on their own and are keen to set up their business in Malaysia.
Mr Mustapa told Bernama that "But there are some issues which we need to clarify. They want to bring in skilled labour, want to know the availability of scrap iron and also the tariffs.”
He added that y diversified Essar was interested in infrastructure, power generation, oil and gas. The other two companies are keen on windmill infrastructure, aluminium ladders used in aircraft and scaffolding and steel-related products.
Mr Mustapa further said that "These companies are even interested in setting up a production base for ASEAN in Malaysia. We told them to come with their specific needs and we will assist.”
(Sourced from BERNAMA)
Saturday, February 19, 2011
Essar Steel opens marketing office in Spain and Italy
Saturday, 19 Feb 2011
Essar Steel announced that it opened its marketing offices in Valencia in Spain and Milan in Italy.
This is part of Essar’s strategy to strengthen its distribution network and be closer to its customers to provide consistent service.
Mr Vikram Amin Executive Director of Essar Steel said “Europe has been an export market for Essar Steel for over 15 years. Having a steel service centre in UK will enable us to provide world class service to our customers, and will give the company access to the quality conscious European Union market.”
Essar Steel already has a steel service centre in West Midlands in UK with an annual capacity of 500,000 tonnes.
Monday, January 31, 2011
Price hike by Indian steel majors in offing on February opening
Monday, 31 Jan 2011
BL reported that on the backdrop of rise in iron ore and coking coal prices, Indian steel companies are set to hike prices by INR 1,000 to INR 1,500 a tonne in February.
As per report, some of them such as TATA Steel, JSW Steel and Essar Steel have hinted at a possible increase, there has been no reference to the quantum of the hike.
The report cited Mr Vikram Amin director sales & marketing as saying that “If domestic prices are higher, there is always a chance of cheap imports. At present, international prices are higher.”
Mr Jayant Acharya director sales & marketing of JSW Steel said that costs of raw materials have jumped substantially in the last few months and as a result, steel prices have had to move in tandem with input costs.(sourced:BL)
Thursday, January 20, 2011
Indian steel makers in race for Afghan mines
Thursday, 20 Jan 2011
PTI reported that leading private and state run steel firms including TATAs, Essar and SAIL are among the 14 Indian companies that have evinced interest in developing the Hajigak mines, containing an estimated 1.8 billion tonnes of iron ore, in Afghanistan.
The war torn country had invited an Expression of Interest to develop the mine, which it said is a part of its huge proven reserves worth an estimated USD 3 trillion.
Mr S Vijay Kumar mines secretary told PTI that "Fourteen Indian companies including TATA Steel, SAIL, Essar, NMDC and RINL have responded to the EoI floated by the Afghan government to develop its Hajigak mines.”
He said “These companies may bid for the assets up for offer in consortia or may go it alone in the upcoming auction. They will take a call in this regard after the Afghan government announces the modalities for the bidding round.”
Afghanistan had invited EoIs for multiple exploration concessions falling within the Hajigak mines. The last date for submission of EOIs was January 13. The Afghan government had said the selected bidder will be granted the concessions under Afghan Mineral Law.
Sourced from www.deccanherald.com and PTI
PTI reported that leading private and state run steel firms including TATAs, Essar and SAIL are among the 14 Indian companies that have evinced interest in developing the Hajigak mines, containing an estimated 1.8 billion tonnes of iron ore, in Afghanistan.
The war torn country had invited an Expression of Interest to develop the mine, which it said is a part of its huge proven reserves worth an estimated USD 3 trillion.
Mr S Vijay Kumar mines secretary told PTI that "Fourteen Indian companies including TATA Steel, SAIL, Essar, NMDC and RINL have responded to the EoI floated by the Afghan government to develop its Hajigak mines.”
He said “These companies may bid for the assets up for offer in consortia or may go it alone in the upcoming auction. They will take a call in this regard after the Afghan government announces the modalities for the bidding round.”
Afghanistan had invited EoIs for multiple exploration concessions falling within the Hajigak mines. The last date for submission of EOIs was January 13. The Afghan government had said the selected bidder will be granted the concessions under Afghan Mineral Law.
Sourced from www.deccanherald.com and PTI
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