Government is currently developing a policy focused on the beneficiation of low-grade iron ore to enhance the use of iron ore with lower iron content in steel manufacturing. The initiative is a collaborative effort between the Ministry of Steel, the Ministry of Mines, and the Ministry of Environment, Forest and Climate Change (MoEFCC).
The policy is anticipated to be finalized within three months. It is likely that the policy will include concessions on the royalty for the production of fines. While lump ore or high-grade iron ore typically contains 65.53 percent iron (Fe), fines contain 64 percent or less Fe. Utilizing iron ore with lower iron content necessitates beneficiation, which increases the cost of steel production.
As reported by Projects Today, union steel minister Jyotiraditya Scindia has urged the domestic steel industry to adopt steel-making processes that emit low levels of carbon and to comply with environmental, social, and governance (ESG) standards.
