Following permission for free commercial sale from its captive mines, Indian state-run Steel Authority of India Limited (SAIL) has sold 2.16 million mt of fresh iron ore fines on the open market during the current financial year, a company statement said on Thursday, January 28.
According to the company, it sold 300,000 mt of dump fines and tailings during the April-December period of 2020.
The sales were through e-auction and pursuant to the government’s objective contributed to alleviating the iron ore shortage in the market, the company said.
The steel producer has also completed construction of a new road network connecting its Bolani captive iron ore mine, which will facilitate transportation and the offering of more volumes for sale on the open market, the company statement said.