Steel industry should increase use of low-grade iron ore in production: Govt

New Delhi: The domestic steel industry must adopt new age technologies and carry out research and development (R&D) activities to utilise the low-grade iron ore in their production, the government said on Thursday. "The production of low-grade iron ore is increasing in the country compared to high-grade ores," said Sanjay Singh, Steel Secretary.

'Industry must collaborate in country's preparedness for producing all kinds of specialty steel'

While addressing the CII Steel Summit 2022, the official said, "Industry must collaborate in the country's preparedness for producing all kinds of speciality steel, utilising about 100 million tonne (MT) low quality ore around the mines by converting them into high quality, adoption of high-level technology, and develop a common strategy for R&D collaboration."

Capacity of SAIL to grow from 19.6 MT to 33 MT by 2030: Steel Minister

Coking coal and iron ore may not be a viable option in the future based on ESG parameters: Scindia

On Tuesday, Union Steel Minister Jyotiraditya Scindia had urged the domestic steel industry to adopt low-carbon emitting steel-making processes, while cautioning that key raw materials coking coal and iron ore may not be a viable option in the future based on environmental, social, and governance (ESG) parameters.

According to industry data, the production of iron ore with more than 58 percent Fe (iron) content was 50.66 MT during April-September 2022, while the production of iron ore below 58 percent Fe content was 11.56 MT. The use of iron ore with less iron content needs beneficiation which adds to the cost of steel production.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)