Indian Govt Allows SAIL to Sell 25% of Annual Production of Iron Ore in Merchant Market

Indian government has taken a decisive step in assuring supply of raw material to steel sector by allowing Steel Authority of India Ltd (SAIL) to sell 25% of its total annual mineral production in merchant market.

This is in order to avoid any kind of possible disruption that may occur because of mining auction due on March 2020.

Government of India has also given permission to sell 70 million tonnes of sub grade minerals in the captive mines of SAIL (Steel Authority of India Ltd) This would enable SAIL to lead the way in ensuring availability of iron ore in the years up ahead for the steel sector.

SAIL is a state owned steel maker with a captive mines of iron ore producing around 25 MnT iron ore per annum.