OreTeam, a steel and steel-making commodities research house that provides industry professional with real-time news and analysis, pricing information and key research notes, will organise a two-day international conference on iron ore mining industry in Hyderabad from December 13.
With all the major iron ore mining regions in the country under scrutiny, there is bound to be a short -supply of raw material for steel-making. As per OreTeam data, the iron ore production in 2012-13 is pegged at around 140 million tonne, which would just be enough for the overall domestic requirement. Already, some of the steelmakers have responded by importing iron ore, which seemingly is a short-term arrangement, Sachin Sehgal, director of OreTeam, stated in a release on Thursday.
The iron ore mining industry is facing issues like mining and export ban in Kanataka, and most recently in Odisha where the state government had asked Rs 67,000 crore from major mining companies in that region for violating statutory clearances and producing excessive iron ore over the past 10 years.