How many iron ore Mines In India & where?
Steel makers crowd into India chasing its cheap iron ore reserves.
Is there enough for everybody? Financial Express July 15 2006 Heres a simple statistic: if all the new announcements for steel plants in India actually get set up on ground, the country will have new facilities toting up 175 million tonnes over 4.6 times todays installed steel-making capacity. Players such as South Koreas Posco and the Rotterdam-based Mittal Steel, now Mittal-Arcelor, lead the race with plans to set up 12-million-tonne steel plants each in Orissa as also Russian steel major MMK, which has announced a 10-million-tonne factory in the state. Anglo-Dutch steel maker Corus is also said to be eyeing Indian shores.
With a boom in housing, infrastructure, automobiles and white goods, domestic steel consumption is at an all-time high of about 39 million tonnes and has been growing at a strong 7%-8% annual clip but even this robust growth will not be enough to absorb the steel the ...more