Considering the huge gap between demand and supply, the Commission appointed by the Supreme Court of India decided to continue on Karnataka iron ore inventory of electronic auctions.
Currently only 19 mines in Karnataka resume mining, iron ore supply is still insufficient to meet the needs of the steel industry. 2013 Commission auctioned off about 400 million tons of iron ore stocks, this year preparing to auction 400-500 ten thousand tons of iron ore inventory to make up the gap between supply and demand.
Iron ore grade of these stocks mostly in the 45% -50%, JSW Steel and other steel company BMM Ispat's plant using new technology has been installed in order to take advantage of these low-grade ore.
Karnataka steel industry needs to 3500-4000 tons of iron ore per year to achieve full load operation, and the current supply of about 14 million tons of iron ore, the mine resumed operations as well as more capacity utilization NMDC to 10 million tons, the late iron ore supply is expected to rise to 22 million tons.
Karnataka's largest private mining Sesa Sterlite resume mining activities at the end of last year, one-quarter production is expected to nearly 100 million tons, the company is allowed to produce 2.29 million tons of ore annually. Industry sources, the fourth quarter of this year will be 5,6 mine was allowed to resume mining.
(Source: Global network hardware)