You are here: Home > Steel News > Latest Steel News > India’s...

India’s RINL and NMDC ink long-term iron ore supply contract

Wednesday, 27 December 2023 10:00:00 (GMT+3)   |   Kolkata
       

Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has entered into a long-term supply agreement with NMDC Limited to source iron ore from the latter’s Donimalai mines in the southern state of Karnataka, sources at the steel company said on Wednesday, December 27.

The supply agreement will support the existing contract with NMDC Limited for supplies of iron ore from the latter’s Bailadila mines in the central state of Chhattisgarh.

RINL’s requirement for iron ore will increase following the planned restart of its third blast furnace on December 30, 2023, following an agreement with Jindal Steel and Power Limited (JSPL) under which the latter will provide working capital to RINL in lieu of monthly off-take of semis.

RINL will require 600,000 mt of iron ore per month for its 7.3 million mt steel mill located in the southern port town of Vishakhapatnam once the third blast furnace is fired up later this week.

NMDC Limited is the largest iron ore miner in the country, while RINL is the only government-run steel mill without any captive iron ore mine, relying on merchant procurement locally and imports of the raw material.


Similar articles

Iron ore prices in China inch up, though further increase unlikely

07 Nov | Scrap & Raw Materials

Australia’s CuFe completes sale of JWD iron ore mine rights

07 Nov | Steel News

Major steel and raw material futures prices in China – November 7, 2024 

07 Nov | Longs and Billet

Daily iron ore prices CFR China - November 6 2024

06 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 6, 2024 

06 Nov | Longs and Billet

Daily iron ore prices CFR China - November 5, 2024

05 Nov | Scrap & Raw Materials

India’s NMDC Limited sees 3.83 percent rise in iron ore output in October

05 Nov | Steel News

Major steel and raw material futures prices in China – November 5, 2024 

05 Nov | Longs and Billet

Australia’s CZR yet to complete sale of Robe Mesa iron ore project

05 Nov | Steel News

Brazilian high-grade iron ore price increases from last week

04 Nov | Scrap & Raw Materials