Narendra Singh Tomar

The move comes in the backdrop of government's plans to encourage mines exploration in the country, which has so far not been able to attract private participation on account of lack of policy bottlenecks as well as favourable business opportunities.

The Directorate General of Safeguards said on Monday it would look into whether a duty was needed after the Steel Authority of India (SAIL), JSW Steel and Essar Steel filed an application in July seeking safeguard measures for a four-year period.

The topic was discussed in a meeting held yesterday between Steel and Mines Minister Narendra Singh Tomar and his Australian counterpart, Minister for Industry, Science and Resources Ian Macfarlane, an official statement said on Thursday.

Amid a global glut, steel imports into India jumped 72 percent in the last fiscal year to March to 9.3 million tonnes. South Korea and Japan, which pay duties of less than 1 percent due to the FTAs, together sent 3.5 million.

For raw material security, steps will be taken by state government to allot 140 hectares at NEB range Sandur Taluk in Bellary district of Karnataka to VISL as soon as the case pending in High Court is settled, the Minister said.

In March this year, the government passed the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015, which paves the way for states to auction iron ore and non-coal mineral mines.

"The unit has been set up in Billowa, Madhya Pradesh under a Joint Venture. Prime Gold has 74 percent stake and SAIL has 26 percent stake in this unit, which will produce one lakh tonnes of world class TMT steel and 60,000 tonnes billets will be supplied from SAIL plants to this unit annually," an official statement said here.

China lead the tally with 7.23 lakh tonnes (LT) followed by South Korea (6.03 LT), Japan (5.9 LT), Ukraine (95,340 tonne) and Germany (89,070 tonne), as per data tabled by Steel and Mines Minister Narendra Singh Tomar in Lok Sabha.

Besides, the country's largest steel producer has also signed a Rs 2,000 crore memorandum of understanding (MoU) with the Railways Ministry for a 240 km rail link from Raipur to Jagdalpur in Chhattisgarh," Tomar said at a CII conference here on Wednesday.

Rajasthan has identified over 30 blocks of iron ore, limestone, manganese and potash among other minerals for auction.

In order to augment the national steel production to 300 million tonnes per annum by 2025, the central government has proposed to set up four mills through NMDC, SAIL and RINL in Chhattisgarh, Odisha, Jharkhand and Karnataka, Union Steel and Mines Minister Narendra Singh Tomar said.

Addressing a meeting of the Parliamentary Consultative Committee, attached to his Ministries, in Bengaluru, Karnataka, the Minister said Indian steel industry is growing at a reasonably good pace and last year the growth in crude steel production in India was more than 8 percent.

Senior officials of Ministry of Steel and NMDC were present during this meeting. The iron ore production of the company during 2014-15 touched a record at 30.44 MT as against 30.02 MT in 2013-14. NMDC has planned a capex of Rs 3,500 crore for 2015-16 fiscal and expects iron ore prices to firm up.

Steel Minister Narendra Singh Tomar today directed SAIL to increase its competitive spirit amidst the steel major's market share dipping to 14 percent in the last fiscal from 18.8 percent in 2009-10.

The Centre and the Madhya Pradesh government discussed the possiblity of PSUs setting up steel and power plants as well as developing mines in the state.

The government is also making efforts to "infuse life" into the country's mining sector that has been left behind other countries due to under exploration, said the Minister for Steel and Mines. A Special Purpose Vehicle (SPV) dedicated to the steel industry in being worked upon, Tomar said at a press conference here.

Last month POSCO had inaugurated a USD 709 million steel mill in Maharashtra to scale up its presence in the country.

The Bill, which replaces Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015 promulgated on January 12, 2015, amends the Mines and Minerals (Development and Regulation) Act, 1957.

This amendment was voted out after a division, with parties like TMC, NCP, SP, BSP, BJD, AIADMK, DMK and JMM, besides allies Shiv Sena and SAD supporting the government. The rejection of the motion by 112 votes against and 68 in favour, paved the way for the House to take up the Bill for voting.

The government roped in the investment banker around 15 days after President Pranab Mukherjee promulgated the Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015, in the second week of January to suggest the rules for auction and bidding parameters.