Tata Steel resumes Noamundi iron ore mine

Written By Unknown on Minggu, 04 Januari 2015 | 21.03

The Jharkhand-based mine, which has 10 million tonnes per annum capacity, is crucial to Tata Steel's raw material supply for its 9.8 mtpa Jamshedpur facility.

The Noamundi iron ore mine of Tata Steel  has resumed production after a gap of nearly four months providing a huge relief to the firm which recently resorted to imports for the first time in over 100 years of existence.

The Jharkhand-based mine, which has 10 million tonnes per annum capacity, is crucial to Tata Steel's raw material supply for its 9.8 mtpa Jamshedpur facility.

"We have started the mine from January 1. It will reach to its full capacity in 2-3 days. The rated capacity of the mine is 10 mtpa," the official said.

The Noamundi mine has been closed since September on renewal of lease issues which forced Tata Steel to resort to imports of iron ore to the tune of 5 million tonnes. The issue cropped up following a notification of Mines Ministry last July amending Mineral Concession Rules, 1960, which provide for a period of two years to execute renewal lease for the first time.

It does not provide the leverage for second and subsequent renewals, based on the interpretation of a Supreme Court directive. This led to the closure of more than 40 mines in Odisha and Jharkhand belonging to SAIL , Tata Steel and others.

The closure of the mines forced Tata Steel to temporarily suspend operation of a blast furnace for over a month. It had earlier said this would impact the stability of operations, cost structure and profitability during the October-December quarter.

However, it is looking for better days during the January-March quarter as its four mines in Odisha have resumed last month.

Tata Steel has been operating its mines in Jharkhand and Odihsa for several decades and the operation of its Jamshedpur facility is dependent "equally" on these mines located in the two mineral-rich eastern states.

Also Read: Core sector growth jumps to 5-month high of 6.7% in Nov

Tata Steel stock price

On January 02, 2015, Tata Steel closed at Rs 410.80, up Rs 6.25, or 1.54 percent. The 52-week high of the share was Rs 578.60 and the 52-week low was Rs 332.20.


The company's trailing 12-month (TTM) EPS was at Rs 84.86 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 4.84. The latest book value of the company is Rs 629.60 per share. At current value, the price-to-book value of the company is 0.65.


Anda sedang membaca artikel tentang

Tata Steel resumes Noamundi iron ore mine

Dengan url

http://kebugaranhidup.blogspot.com/2015/01/tata-steel-resumes-noamundi-iron-ore.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Tata Steel resumes Noamundi iron ore mine

namun jangan lupa untuk meletakkan link

Tata Steel resumes Noamundi iron ore mine

sebagai sumbernya

0 komentar:

Posting Komentar

techieblogger.com Techie Blogger Techie Blogger