Steel minister asks SAIL to sell surplus iron ore lying across its captive mines 

24 Sep, 2021 by Special Correspondent

Ministry of Steel has directed the State-owned steel authority of India to sell the stock of 70 million tonnes of iron ore dump fines/tailings lying across its captive mines.

The Union Steel Minister Ram Chandra Prasad Singh on Wednesday chaired a review meeting on the status of the Disposal of Iron Ore fines by Steel CPSEs with the representative of Steel CPSEs viz. Steel Authority of India Ltd. (SAIL) and National Mineral Development Corporation (NMDC) along with officials in the Ministry of Steel.

“Since Ministry of Mines has permitted (SAIL) to sell the stock of 70 MT of dump fines/tailings lying across different captive mines of SAIL, these stocks should be disposed of at the earliest and made available to the industry,” Singh said. 

A concrete plan of action needs to be prepared and acted upon, he added.

The minister has asked SAIL to prepare a roadmap with clear timelines for the disposal of iron ore fines either by selling it in the open market or by using it for their captive use. NMDC was also advised to prepare a similar roadmap for enhancing their products and expanding their customer base.

Earlier, Chairman, SAIL and CMD, NMDC briefed about their present and future action plan for the disposal of iron ore fines along with ramping up their production to ensure the more surplus raw material in the market.

Source: The Economic Times