India’s steel ministry directs SAIL to set specific timelines to liquidate idle iron ore stocks

Thursday, 23 September 2021 11:04:33 (GMT+3)   |   Kolkata
       

State run Steel Authority of India Limited (SAIL) has been directed to set definitive timelines to liquidate idle iron ore dumps and tailings lying across its captive mines and make the raw material available to other steel producers, minister of steel, Ram Chandra Prasad Singh said on Thursday, September 23.

While reviewing performance of government run steel companies, he said that SAIL had been given permission to sell 70 million mt of iron ore and tailings lying idle across its captive mines and need to set an action plan with specific timelines to make it available to other steel producers through merchant sales.

He said that SAIL should either make use of the idle stocks or make it available to other steel producers and not keep such stocks idle as the raw material was ‘a national asset.’


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