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NMDC signs MoU with WBMDTC for coal mining
Posted by :
DNitinTracked by: 0 Boarder
NMDC signs MoU with WBMDTC for coal mining
KOLKATA: The public sector unit, NMDC Limited, on Tuesday signed a MoU with West Bengal Mineral Development and Trading Corporation to explore, develop and mine coal at Deocha-Pachami block in Birbhum district which has a reserve of two billion tonne. --I t will be a 50:50 joint venture with WBMDTC. The coal block is spread over 9.7 sq km of which mining will be initially done in 3.2 sq km having a reserve of 450 million tonne at a depth of 100 metre,-- said Mr Rana Som, CMD, NMDC Ltd. This is one of the five biggest coal blocks in the country, Rana said.
The MoU was signed by NMDC Director (Technical) P S Upadhyay and WBMDCTC CMD Arun Kumar Sen in the presence of Chief Minister Buddhadeb Bhattacharjee and Steel Minister Ram Vilas Paswan. The MoU paves the way for geological exploration of coal deposits to establish technical and commercial viability of the project. Som said that NMDC, which is on fast track expansion and diversification mode, would make initial investment of about Rs 1,000 crore for the project.
The state government would acquire and provide the land for coal mining in the block, he further said adding that NMDC, which had forayed into coal mining, has also started exploration process for two coal blocks in Madhya Pradesh. – PTI
...
NMDC hikes ore prices for long-term deals 30-40%
Posted by :
lifetradeTracked by: 0 Boarder
KOLKATA: NMDC Ltd has increased iron ore prices for long-term agreements (LTA) by 30-40% across a range of products after final round of negotiations with Japanese steel mills —- or the so-called JSM pricing —- last week. The prices have been fixed for 2008-09.
The hike is based on the increase in Australian ore prices, where prices for iron ore lumps were raised 96.5% and for iron ore fines 79%.
“Based on this formula, the increase in prices has worked out between 30% and 40%. Though this is the final price, we are looking at alternatives for the customer. We are awaiting responses from the customer,” company sources told DNA Money, hinting at the possibility of signing some contracts on lower rates.
The steel sector is expected to fiercely oppose the hike because of the downturn, sources said.
NMDC’s new price of iron ore lumps would be $126 per tonne against $65 per tonne last year.
Such an increase would be almost impossible for domestic steel producers to digest.
Additionally, steel companies have gone for production cuts, which would mean less demand for the metal.
“Amid falling international prices and low global demand, a hike raw material costs would be extremely worrisome,” said a top steel company executive who did not wish to be named.
With any increase in prices, NMDC would stand to gain as it sells 90% of its product through long-term contracts to domestic steel makers, sponge iron plants, pellet plants and pig iron plants.
But now the question of being able to sell at such high prices is a crucial issue.
The price increase move will affect all major domestic steel players, which buy ore from NMDC.
The impact will be less on SAIL and Tata Steel, which have their own captive ore mines.
Iron ore prices especially spot prices have tanked over the last couple of months and now are around 30-35% lower than contract prices.
Industry sources said that given the grave international situation and downward demand, international benchmark of iron ore may come down significantly by 15-20% next year.
“The Australian prices were fixed in the beginning of the year when there was a boom time. The Indian LTA prices got delayed and were fixed on the earlier trend”, a source said.
About 10% of NMDC’s products are exported through MMTC. ...
multibaggerstockadvisor.blogspot. com
Posted by :
GuestTracked by: 0 Boarder
the way ahead and the valuation expected in medium to short term could be availed from the title of this message and relied upon for trading...
will this stock ever go anywhere ?
Posted by : RamBholeTracked by: 0 Boarder
Don`t fill sorry... everybody has their own perception and opinion...
I have expressed my own view... regarding RJ ji, please remember that last yr during Deepavali he is the only person who anticipated this downfall...
Regards,
RAM...
In reply to:
will this stock ever go anywhere ?
Posted by : Guest
i am sorry if i am not able to share your optimism ! you have quoted RJ here (i guess rakesh jhunjhunwala ji ), but he has been more often wrong than right in this market. i am not able to share your optimism on NMDC simply because in SARKARI companies things move very slowly, (if they move at all) , 
NMDC will soon bottom out at Rs 125 or so..
Posted by : Expert-IITracked by: 1 Boarder
NMDC will touch a real hard bottom of Rs 125, very soon......
will this stock ever go anywhere ?
Posted by : GuestTracked by: 0 Boarder
i am sorry if i am not able to share your optimism ! you have quoted RJ here (i guess rakesh jhunjhunwala ji ), but he has been more often wrong than right in this market. i am not able to share your optimism on NMDC simply because in SARKARI companies things move very slowly, (if they move at all) ,...
In reply to:
will this stock ever go anywhere ?
Posted by : RamBhole
madam... don`t make childish statement... sentiment... !!! pls.. :) it has no role to play in share market... we are here to make money...
you have mentioned "NMDC will not go anywhere..." true... very true... you know that`s why we love natural resource stock like NMDC, SESA, VEDANTA, GUJRAT NRE COCK, ASHAPURA... ROHIT-FERRO so much... they are not going to vanish... :) mater of the fact is, we all know that they have just complete their marathon run (of course win it) and in next 2 yr they will move in the side line... BUT MADAM, FOR US it`s LIKE OUR FD... insted of investing in GOLD ang keep it in your locker pls buy some NMDC and forget it for next 5-7 yr... then one day you will see you childish investment will probably give you the best return of your life... see today when other corporates are running here and there for liquidity... the VEDANATA chairman is looking for fresh mines in all over the worlds... neither he is a child... nor we are....
I am giving you one tips... invest in RISHI LASER in next correction... for your info Mr. RJ has brought it around 100/- I think he is not a child either.....
Regards,
RAM
Big Boost for NMDC !
Posted by : dhalpyaTracked by: 0 Boarder
dear Ram,its easy to advice anybody ,i hv been in markt since 88,and seen all HARSHAD,KETAN,UTI,ups--down falls,no one can predict what will happen in next 2/3 yrs time.before harshad it was FMCG,engg .at ketans time it was software,telephone.i.t. and now with bank and insurance it is USA today.
what is next turn guess it cld be pharma,chemical.
the cycle changes every 5/6 years time.If you hv better knowledge in stks give me tips in this PHARMA,CHEMICAL,FERTILIZER sectors.and see within year. ...
In reply to:
Big Boost for NMDC !
Posted by : RamBhole
Dear Nitin,
have you track health care industry... I think next 3 yr they will do well... if yes pls share with me (rbhole at-the-rate gmail dot com)
Have you read about Mukul Choudhury... if not read... and although his industry SPENTX is in deep red... PICK SOME SPENTEX around 5/-... Wait for next 4 yr.... TRUST THIS MAN.... Believe me you will gain a lot...
Similarly trust Mr. SUBASH CHANDRA... and invest in Dish TV around 8-10/- ... I have picked few in last fall and will pick more... I think 09-Q3 onwards... it will start rewarding us....
Pick some RISHI LASER around 28/- also...
REGARDS,
RAM
Big Boost for NMDC !
Posted by : RamBholeTracked by: 0 Boarder
Dear Nitin,
have you track health care industry... I think next 3 yr they will do well... if yes pls share with me (rbhole at-the-rate gmail dot com)
Have you read about Mukul Choudhury... if not read... and although his industry SPENTX is in deep red... PICK SOME SPENTEX around 5/-... Wait for next 4 yr.... TRUST THIS MAN.... Believe me you will gain a lot...
Similarly trust Mr. SUBASH CHANDRA... and invest in Dish TV around 8-10/- ... I have picked few in last fall and will pick more... I think 09-Q3 onwards... it will start rewarding us....
Pick some RISHI LASER around 28/- also...
REGARDS,
RAM...
In reply to:
Big Boost for NMDC !
Posted by : DNitin
PMO rejects Rashtriya Ispat Nigam, NMDC merger proposal
Wednesday, Nov 12, 2008
Our Bureau
Hyderabad, Nov. 11 The proposed merger of Rashtriya Ispat Nigam Ltd (RINL) and National Mineral Development Corporation (NMDC) has been rejected by the Prime Minister’s Office (PMO).
--The idea of merger of RINL and NMDC was not considered by the PMO as it was not in the interest of both the companies,-- Mr Pramod Kumar Rastogi, Secretary, Ministry of Steel, told Business Line on the sidelines of a conference here on Tuesday.
He added that another reason for not considering the proposal was because of the long term contracts that NMDC has entered into with domestic as well as international steel companies.
Different takes
Both NMDC and RINL had different takes on the merger proposal. While RINL was keen because a merger would ensure raw material security for the company, NMDC was not too keen as it wanted to foray into steel production.
At present, RINL meets its iron ore requirement from supplies made by NMDC from its Bailadila mines in Chhattisgarh.
RINL in 2007-08 spent around 60 per cent of its total operating expenditure towards raw material procurement, of which iron ore constituted 25 per cent and coal 26 per cent.
RINL has undertaken a massive expansion programme to increase its production capacity from 4.15 million tonnes (mt) to 6.3 mt by 2010.
The company also has moved proposals to get captive iron ore mines in Orissa, Jharkhand and Chattisgarh. But none have yielded any positive results so far.
NMDC, on the other hand, plans around Rs 14,000 crore for setting up a 3 mt greenfield steel plant at Nagarnar in Chhattisgarh.
will this stock ever go anywhere ?
Posted by : RamBholeTracked by: 0 Boarder
madam... don`t make childish statement... sentiment... !!! pls.. :) it has no role to play in share market... we are here to make money...
you have mentioned "NMDC will not go anywhere..." true... very true... you know that`s why we love natural resource stock like NMDC, SESA, VEDANTA, GUJRAT NRE COCK, ASHAPURA... ROHIT-FERRO so much... they are not going to vanish... :) mater of the fact is, we all know that they have just complete their marathon run (of course win it) and in next 2 yr they will move in the side line... BUT MADAM, FOR US it`s LIKE OUR FD... insted of investing in GOLD ang keep it in your locker pls buy some NMDC and forget it for next 5-7 yr... then one day you will see you childish investment will probably give you the best return of your life... see today when other corporates are running here and there for liquidity... the VEDANATA chairman is looking for fresh mines in all over the worlds... neither he is a child... nor we are....
I am giving you one tips... invest in RISHI LASER in next correction... for your info Mr. RJ has brought it around 100/- I think he is not a child either.....
Regards,
RAM...
In reply to:
will this stock ever go anywhere ?
Posted by : Rita Khanna
i am sorry if i`m hurting anyone`s sentiment. but truth must be told and cold facts must be presented. NMDC will not go anywhere anyway. Exit this space and get into some efficient companies.
real bottom NMDC
Posted by : Expert-IITracked by: 0 Boarder
real bottom of NMDC is still about 35% away. At about 125, approx, this stock will bottom out, the way it looks..go shorting...
will this stock ever go anywhere ?
Posted by : Rita KhannaTracked by: 0 Boarder
nothing to be sorry, ma`am. after all this is one of those Babu run Government company without any professionalism in management.. quit this counter....
In reply to:
will this stock ever go anywhere ?
Posted by : Rita Khanna
i am sorry if i`m hurting anyone`s sentiment. but truth must be told and cold facts must be presented. NMDC will not go anywhere anyway. Exit this space and get into some efficient companies.
will this stock ever go anywhere ?
Posted by : Rita KhannaTracked by: 0 Boarder
i am sorry if i`m hurting anyone`s sentiment. but truth must be told and cold facts must be presented. NMDC will not go anywhere anyway. Exit this space and get into some efficient companies....
multibaggerstockadvisor.blogspot. com
Posted by : GuestTracked by: 0 Boarder
the ripe time to invest in this stock is to determined with care and moved accordingly or easily derived from the title of this message and could be relied upon...
Miss Rita Dont compare NMDC with MTNL & BSNL
Posted by : DNitinTracked by: 0 Boarder
Dear Guest-ji : As per my understanding, the iron ore prices negotiated by NMDC for both domestic and foreign clients are w.e.f. April 1, 2008.
Guest-ji : do NOT bother and speculate about what price NMDC will be in May 2009, invest now (say during next correction) and forget about it for next 3-4 years. Sell your shares ONLY if you require the money for emergencies ( I hope and pray that they do not ever occur ! ) and you will reap a rich reward !
Wishing you all the success, Guest-ji !...
In reply to:
Miss Rita Dont compare NMDC with MTNL & BSNL
Posted by : Guest
Hello there, is there any one who can tell, this increase in iron ore prices for international clients will be taken ino account restrospectively or from this quater...if so from may 08 onwards then what do u think will be the top line n bottom line for entire year 08.
some one can throw some light on this as it seems that it may have a eps of 15 to 18 rupees for 08 n maybe double for 09 and 60 rupees for 11th year, before that a strong candidate for stake sale n bonus 1 share for 10 shares held.
All the farm loan waiver will have to be footed from some where, i guess it will come from MMTC n NMDC, stake sale will be not less than 500 rupees in the near future...me thinks a price of 700 rupees by may 09.
Thoughts n comments are welcome.
Small investor.
NMDC, Bengal to join hands for coal
Posted by : lifetradeTracked by: 0 Boarder
After JSW Steel ground breaking for its 10-million steel plant, the state government will shortly sign a memorandum of understanding (MoU) with India’s diversified mineral resource company NMDC for exploration and development of one of the largest non-coking coal sites having reserves in excess of 2 billion tonnes.
The coal block would be jointly held by NMDC and West Bengal Mineral Development & Trading Corporation (WBMDTC) in equal partnership.
Rana Som, chairman and managing director, NMDC, confirmed the development.
...
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