Government Developing Policy to Boost Use of Low-Grade Iron Ore in Steel Production

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Government Developing Policy to Boost Use of Low-Grade Iron Ore in Steel Production

The government is developing a policy for the beneficiation of low-grade iron ore, with the aim of increasing the use of iron ore containing lower iron content in…

The government is developing a policy for the beneficiation of low-grade iron ore, with the aim of increasing the use of iron ore containing lower iron content in steel production.

Steel Secretary Nagendra Nath Sinha told PTI that the Ministry of Steel, along with the Ministry of Mines and the Ministry of Environment, Forest and Climate Change of India, is collaborating on this policy.

Sinha mentioned that the policy on the beneficiation of low-grade iron ore is expected to be completed within three months, and hinted at possible concessions on the royalty for fines production. While high-grade iron ore contains 65.53% Fe (iron), fines, which are inferior grade ore, have 64% or less Fe content.

Using iron ore with less iron content requires beneficiation, which adds to the cost of steel production.

Union Steel Minister Jyotiraditya Scindia previously urged the domestic steel industry to adopt low-carbon emitting steel-making processes, pointing out that coking coal and iron ore may not be viable options in the future based on environmental, social, and governance (ESG) parameters.

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