India’s MMTC Limited seeks domestic iron ore miners to aggregate volumes for export to China

Thursday, 11 April 2019 11:53:03 (GMT+3)   |   Kolkata
       

Indian state-run trading firm MMTC Limited is planning to step up the activity of aggregating low grade iron ore fines from domestic mines for export to China, company sources said on Thursday, April 11.

For this purpose, MMTC is seeking to empanel domestic miners and traders in order to supply an aggregate volume of exports to China through the eastern Indian ports of Paradip, Gopalpur and Vishakhapatnam, the sources said.

The trading firm is seeking volumes of iron fines of Fe content in the range of 58-63.5 percent and the lowest grades of Fe content below 57.5 percent, the sources added.

Iron ore miners and traders once empanelled will need to have the capacity to make regular supplies to MMTC for subsequent export to China, the sources said.

To be eligible for empanelment, iron ore miners and traders will need to have a minimum annual turnover of $43 million over the previous three consecutive fiscal years and to have been credit-rated by specified credit rating agencies within the last six months, the sources said.


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