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India's RINL and NMDC ink long-term iron ore supply contract-热处理展-工业炉展-2024第二十四届广州国际热处理、工业炉展览会-巨浪展览—The 24th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
1/2/2024 热处理展-工业炉展-heat treatment expo-furnace expo |
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Indian government-run steel producer Rashtriya lspat Nigam Limited (RINL) has entered into a long-term supplyagreement 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''sBailadila 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 302023, following an agreement with Jindal Steel and Power Limited (JSPL) under which the latter will provide workingcapital 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 milion mt steel mill located in the southern port town ofVishakhapatnam 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 anycaptive iron ore mine, relying on merchant procurement locally and imports of the raw material.
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