India’s state trading firm MMTC to empanel iron ore miners for third party exports overseas

Wednesday, 24 November 2021 12:27:40 (GMT+3)   |   Kolkata
       

Indian government-run trading firm MMTC Limited is seeking to empanel domestic iron ore miners to source low grade iron ore lumps and fines (Fe content less than 58 percent) for exports, sources said on Wednesday, November 24.

According to the notice issued by MMTC, miners and iron ore processors will need to empanel with the trading firm and have ready volumes of low grade iron ore at port stockyards ready to be purchased and shipped on behalf of the trading firm to its buyers.

Under ‘back-to-back’ contracts, MMTC will enter into supply contracts with overseas buyers of low grade iron ore lumps and fines, backed by a contract between MMTC and the miner for shipment to overseas buyers, the sources said.

Each miner to be eligible for empanelment with MMTC will need to have a minimum iron ore production capacity of 1 million mt per year.


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