Metal News

Print
27.11.2012 09:57

Ban in Iron Ore Mining

India: The mining of iron ore has been banned in two states of India, Karnataka and Goa. Due to the ban, foundries are suffering a dry spell of raw metal products materials and the power production across the states has been curtailed until the ban is lifted. The President of the Institute of India Foundrymen, H. Sundara Murthy told the reporters that the “shortage of iron ore due to ban on mining in Karnataka and Goa is hampering production and erratic power supply in many states, especially in West Bengal and Tamil Nadu, is forcing our units to work in one shift.”

Statistics reveal that about 5,000 foundries in India produce grey iron, malleable steel, ductile iron, non-ferrous and steel casting to the tune of 9.05 million tonnes; evidently, this production of metal products have been severely disrupted because of the iron ore ban. At present, China is the market leader of foundry based castings, producing 40 million tonnes per year, followed by India, according to the World Foundry Organization. To maintain this position, the ban on iron ore mining has to be lifted.

The Vice-President of World Foundry Organization, Vinod Kapur commented that “with user industries requiring about 20 million tonnes per year, the gap in the supply and demand of castings is widening due to fall in production owing raw material shortage and power constraints. The government must intervene to ensure enough supply of both - iron ore and quality power.”

Share |

More News

North Bay Property near Wollastonite Mine
24.05.2013 09:04
Canada: The metal products mining company, North Bay Resources Inc., with more than 150 mines totaling 60,000 acres in Canada and British Columbia, have acquired another property next to their Zippa Mountain Wollastonite property, called the Raven Gold property, located in the northwestern British Columbia, in the Golden Triangle
RBC Ball Bearings Get 5-Star Rating
23.05.2013 09:10
Oxford: The ball bearings manufacturer, RBC Bearings, was given a 5-star rating based on the 180,000 investors participating in the Motley Fool CAPS, a free investing community. All the 125 members who rate the ball bearings company believed that the RBC stocks will outperform in the S&P 500
Raw Metals Price Falling
23.05.2013 09:01
USA: According to the Standard and Poor’s GSCI Spot Index, the price of 24 raw metals fell drastically this year, a sign that the global economic slowdown is lessening the demand for raw metals and metal products. The index shows that the price fell by almost 1.5 percent
Xstrata Clean Copper Venture
22.05.2013 09:22
Chile: In a bid to produce and promote the use of clean copper energy in Chile, Xstrata Copper has partnered with Origin Energy Limited whereby by Origin Energy will have 51% stake in Xstrata Copper’s Energia Austral hydroelectric development company, located in Chile. Origin Energy has the experience and expertise track record
Solid Metal Bars Used In Chairs
21.05.2013 09:17
United States: FashionSeating.com has recently introduced metal products in form of metal seating options for various markets. These seatings are made of solid metal bars to give them both durability and modish look. The collection is available online at the company’s retail website
Demand for Galvanized Steel Still Poor
21.05.2013 09:10
United States: Even though the metal product manufacturing industry has shown some signs of improvement, it has not yet become stable. The demand for galvanized steel and steel metal sheets is still extremely poor. The setback that the residential and commercial construction sectors have been facing is largely due to the lull
Copper and Tin Ingots Found in Historic Find
19.05.2013 00:07
Europe: There are times when history jumps out from the past and lands up in the present only to strengthen certain thoughts and concepts. People who think that the use of metals and metal products are a new find think again. Archaeologists have found a trading vessel which dates back 5000 years and it contains a large valuable
Gold Tube Reserve Estimate Given for Kazakhstan Gold Project
19.05.2013 00:03
Florida: The independent Feasibility study has revealed the mineral reserve estimate of gold tubes at the North-Eastern Kazakhstan Kyzyl Gold Project at 5.76 million ounces. The result was announced by the Ivanhoe Mines Founder and Chief Executive Officer, Robert Friedland and the Altynalmas Gold Chairman
Innovations in Chain Link Fences
17.05.2013 09:09
Washington: With many innovations and a lot of research going on in the metal products’ industry, chain link manufacturers and sellers have also come up with a variety of ways for keeping their products in demand. Hercules, a master manufacturer of chain links and chain link fencing, has done an outstanding job
N15 Billion Liquid Steel Plant Investment
16.05.2013 08:22
Nigeria: The economy of any country flourishes with its development in the metals and minerals industry. Previously, this experience was lacking in Nigeria, which is why the country had to suffer tremendous economic setback. In the recent times, Nigeria could not live up to its full potential of processing and creating metal products