For investors watching the markets over the past year, geopolitics have been front and center.
In April 2025, President Trump announced a sweeping set of tariffs that set off a redefinition of global trade relations. In February 2026, the US and Israel launched the war in Iran, now in its sixth month. In Eastern Europe, the war in Ukraine rages into its fifth year, while Canada may move to become the European Union's first "associate member."
But that apparent level of risk doesn't always portend ill for the stock market, UBS Wealth Management chief investment officer Mark Haefele argued in a note to clients on Friday.
The S&P 500 index has risen after both President Trump's "Liberation Day" tariff announcement and the outbreak of the war in Iran. · AlphaSpace
"The challenge for investors is that they must make two forecasts at once," Haefele said. "First, whether a geopolitical event will prove economically significant, and second, whether the consequences are already reflected in asset prices."
"History suggests that both forecasts are harder to make than they might seem," Haefele wrote.
The war in Iran, especially, has proven far more complicated and long-lasting than expected. Initially pitched by the White House as a two-week excursion, the conflict is now into its seventh month and has spent that time roiling the energy market.
While oil prices have come slightly off their wartime highs set early in the conflict, benchmark Brent (BZ=F) and WTI (CL=F) contracts have continued to hold at or above $100 as the Strait of Hormuz — the world's most critical chokepoint for global energy flows — remains unsafe for shipping. In recent days, Houthi activity along the Red Sea and attacks on critical Saudi infrastructure have opened up a new front in the war.
The complexity of the conflict and the number of potential red lines for the White House that have been crossed — $100 oil, the 10-year Treasury yield above 5% — led strategists at JPMorgan to tell clients they couldn't forecast a clear path forward.
"For the first time since the start of the Iran conflict, we don't have a baseline view," commodities strategists at JPMorgan, led by Natasha Kaneva, wrote to clients on Thursday. "We simply don't know how to model the endgame."
Even so, the stock market remains just slightly off all-time highs as equities have largely shrugged off the war, with far more focus on earnings growth and the AI boom.
That resilience matches the historical record. When the market does experience a geopolitical drawdown, Haefele said, they tend to be short-lived, measuring at a median of only 16 days.
Mumbai, Sep 20 (IANS) The Indian stock market is likely to remain sensitive to developments around the US-Iran conflict, crude oil prices, US tariff moves and global bond yields in the coming week, with foreign fund flows and the rupee-dollar movement also expected to influence investor sentiment.
Market participants will closely track any signs of progress in US-Iran negotiations, changes in energy prices and their potential impact on inflation and economic growth. Any development on the diplomatic front could have implications for crude oil prices, global risk sentiment and equity markets.
US tariff developments will also remain in focus. The US House of Representatives has approved a Russia sanctions bill that would empower President Donald Trump to impose tariffs of up to 100 per cent on countries purchasing Russian oil and gas. The move could have implications for major importers such as India and China and may affect global trade and energy flows.
Crude oil prices are likely to remain another major market driver. Foreign institutional flows will also be closely watched. FIIs and FPIs turned net buyers in the cash market on September 18, purchasing shares worth Rs 599.54 crore more than they sold. Domestic institutional investors also remained net buyers, with net purchases of Rs 1,019.69 crore.
The rupee-dollar movement could add another layer of volatility for equities. Meanwhile, the Indian stock market ended the truncated trading week on a weak note, weighed down by elevated crude oil prices and rising global bond yields. Concerns over the near-term inflationary impact of higher energy costs, along with their potential drag on economic growth, continued to weigh on investor sentiment.
For the week, the Sensex declined 0.65 per cent to close at 74,294.46, while the Nifty slipped 0.22 per cent to end at 23,346.40. Broader market indices, including the midcap and smallcap segments, remained largely flat after a volatile week, following several weeks of outperformance.
By Charles Kennedy - Sep 18, 2026, 1:10 PM CDT
Volkswagen has dramatically cut its 2026 profit outlook as deteriorating business in China, restructuring costs and a multibillion-euro writedown at Porsche pile pressure on Europe’s largest automaker.
The German carmaker now expects an operating margin of no more than 1% this year, down from its previous forecast of at least 4%, according to Bloomberg. Volkswagen shares fell more than 7% following the announcement, dragging other automakers lower.
VW expects around €10 billion ($11.5 billion) in charges this year, including restructuring costs associated with workforce reductions and writedowns on Chinese assets. The total includes a €6-billion writedown related to Porsche, reflecting revised long-term expectations for the sports-car maker.
Excluding the exceptional charges, Volkswagen said its operating margin would be around 4%.
China represents one of the biggest challenges. Volkswagen CFO Arno Antlitz said the market has contracted by around 20%, with no stabilization currently in sight. Chinese automakers are simultaneously taking domestic market share and expanding into Europe with competitively priced electric vehicles.
The faster-than-expected shift toward EVs in Europe is creating another headache. Volkswagen said growing EV sales are weighing on profitability at its Volkswagen passenger-car and Audi businesses because battery-powered vehicles generally generate lower margins than comparable combustion-engine models.
The deteriorating outlook is accelerating VW’s efforts to reduce costs. The automaker recently reached an agreement with labor representatives that could increase planned job cuts to 100,000 globally, while management is also seeking to address excess manufacturing capacity in Germany.
For Volkswagen, the challenge is particularly significant because two pillars that historically supported its sprawling European operations—strong Chinese earnings and premium-brand profits—are weakening simultaneously.
Americans have paid about $97 billion more for fuel since the Iran war started in late February, roughly $740 extra per household, according to CNN. President Trump says prices will come down after the midterms. The CEO of Chevron just said publicly he does not see how that happens quickly.
Mike Wirth, Chevron's chairman and chief executive, spoke at a University of Texas at Austin energy conference on September 11. He told the audience that the mechanisms that helped absorb the oil supply shock earlier in the conflict have largely been used up, and that prices are more likely to rise than fall over the next few months.
What Wirth said about the oil market's shrinking buffers
When the U.S.-Iran conflict began, the oil market had several ways to handle the disruption. Countries could release crude from strategic reserves. Commercial inventories could be drawn down. The U.S. eased restrictions on sanctioned crude stored on vessels at sea. Those measures helped limit the initial price spike.
"Those have largely now played out," Wirth said. The energy system no longer has the buffers it had when the war began.
The loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline that had been bypassing the Strait of Hormuz. That single disruption put an estimated 2.5 million barrels of oil per day in limbo, tightening a market that was already running short on supply.
"It's harder to envision a scenario where prices soften and quickly," Wirth added. "I think the risks remain to the upside over the next few months."
Wirth also said the Trump administration had discussed Ukraine's strikes on Russian energy infrastructure and that Chevron had since seen fewer disruptions to its operations at Kazakhstan's Tengiz oilfield, one of the company's largest producing assets.
What prices look like at the pump right now
The average U.S. diesel price crossed $6 per gallon for the first time on September 10, as TheStreet reported. The Iran war squeezed supplies from the Middle East. Ukrainian drone strikes on Russian refineries took out more. By the time Wirth spoke on September 11, the national retail diesel price had hit a record $6.23 a gallon.
Gasoline prices came back up to about $4.32 a gallon. They had slipped below $4 for a stretch during the summer when oil pulled back from its March 2026 peak near $120 a barrel. That pullback is now over. Crude has been moving higher for weeks as attacks on shipping and energy infrastructure picked back up.
https://finance.yahoo.com/energy/articles/chevron-ceo-sends-strong-message-164700338.html
Pars Today – Electricity prices in Europe have risen by 60 percent due to the war against Iran, driven by a shortage of natural gas.
According to Pars Today, citing Tasnim News Agency, as Europe approaches the winter season, the region’s electricity markets are issuing their strongest warning since the energy crisis, once again raising concerns about higher energy costs and mounting pressure on European electricity markets.
The wholesale electricity price for delivery in January in Germany, Europe’s largest economy, has risen to more than €180 per megawatt-hour on the European Energy Exchange (EEX). This figure is more than 60 percent higher than during the same period last year, indicating that Europe’s electricity market is facing significant pressure ahead of the cold season.
The main factor behind the rise in electricity prices is natural gas. Gas prices have surged in recent weeks as Europe faces greater difficulties in replenishing its gas reserves as winter approaches. At the same time, competition among different countries to secure supplies of the fuel has intensified, putting further pressure on the gas market.
The war against Iran has added to these pressures. The closure of the Strait of Hormuz has disrupted the transportation of some energy shipments and affected Europe’s access to Qatari gas supplies. Qatar is one of the major suppliers of liquefied natural gas (LNG) to the global market, and any disruption to its exports could affect energy prices and security of supply in Europe.
Overall, rising gas prices, Europe’s difficulties in replenishing its reserves before winter, and disruptions to energy supply routes have once again put the region’s electricity market under pressure, raising concerns about the outlook for energy prices during the coming cold months.
China's Sinopec Petrochemical Corporation has completed over 170 million USD worth of work in Turkmenistan, ensuring the production of over 900 thousand tons of new oil. This was announced by Batyr Jumayev, Deputy Chairman of the Turkmennebit State Concern, speaking at the Turkmen-Chinese forum in Ashgabat.
"I would like to specifically highlight the activities of our key partner, the international oilfield services company of the Chinese petrochemical corporation Sinopec," Jumayev said.
According to him, under the service contract, Sinopec is performing well workovers and rehabilitation, sidetracking, directional drilling, bottomhole stabilization, and water shutoff operations. "To date, Sinopec has completed contractual work worth over 170 million USD," the deputy head of the concern noted.
Jumayev emphasized that, thanks to the Chinese company's high-tech work, new oil production has reached more than 900 thousand tons, and daily production has reached more than 1,5 thousand tons.
The deputy chairman of Turkmennebit also reported that, in addition to cooperation with Sinopec, the concern is implementing 29 other contracts with other Chinese companies worth a total of over 439 USD million. Turkmenistan purchases modern equipment for power engineering, geophysical and oil and gas equipment, tubular products, and chemical reagents from China.
Belarusian potash supplies to China continued to grow in value in August. This is indicated by Chinese customs statistics for the first eight months of the year.
In January-August, China imported nearly 2.58 million tonnes of Belarusian potassium chloride (commodity code 31042090), 74.9% more than in the same period last year. In value terms, supplies increased 2.2-fold to $903.7 million.
In August this year, China imported 278,100 tonnes of potassium chloride from Belarus worth $93.85 million. Imports in volume terms increased 5.6-fold compared with the same month last year, while in value terms they rose 5.2-fold.
The average import price from Belarus in January-August 2026 was nearly $350 per tonne, compared with about $279 per tonne last year. At the same time, the average import price in August 2026 was about $337 per tonne, compared with nearly $360 per tonne a year earlier.
In total, China imported 11.42 million tonnes of potassium chloride in January-August, 51% more than in the same period last year. In value terms, imports increased 84.6% to $4.03 billion.
In August, China purchased 1.35 million tonnes of potassium chloride, 79.1% more than a year earlier. In value terms, imports increased 85.8% to $475.54 million.
Imports of all potash fertilizers into China (commodity code 3104) increased 82% in value terms in August to $482.4 million, while over the first eight months they rose 84% to $4.12 billion. Russia remained the largest supplier of potash fertilizers over the eight-month period. Imports from Russia increased 62% to $1.35 billion, from Laos 2.1-fold to $759.7 million, from Canada 75.1% to $678.55 million, and from Israel 62.5% to $190.5 million.
According to Chinese customs statistics, the total value of imports of goods from Belarus increased 38.2% over the first eight months to $1.435 billion. Potash fertilizers accounted for 63% of China’s imports from Belarus.
By Rebecca Speare-Cole
September 21, 2026
Kenyan growers who produce black tea for British supermarket shelves have warned that climate impacts are damaging crop harvests and further diminishing their already "scarce" household incomes.
The East African nation currently provides half of all black tea consumed across Britain, but local farmers face increasingly unpredictable weather patterns, lower crop yields and quality, alongside escalating operational expenses over recent years.
These compounding issues have driven up global tea costs, leaving supermarket shoppers in the UK paying noticeably higher prices for their favourite beverage.
Yet impoverished farmers at the start of the supply chain see little financial gain from higher market prices. Harvesting smaller crops while spending more to maintain them, growers watch as intermediaries, brokers and large corporate firms continue absorbing the vast majority of total profits.
Across the western Kenyan regions of Kericho and Bomet, many local agricultural workers say they cannot cover basic family living expenses, let alone invest in essential protective measures to build future climate resilience on their farms.
These areas are experiencing severe weather volatility this year, including heavy rainfall during usually dry January periods, unseasonal heat in July, intense storm activity and prolonged drought conditions.
Kenyan farmers who grow tea sold in UK supermarkets have warned that climate impacts are hitting yields and their already 'scarce' incomes (PA)
Nelson Ngeno, manager of Fintea, a union of tea farming cooperatives based in Kericho, said farmers are “really scared” as their livelihoods are “cut short” by the changing conditions.
Production across Fintea’s five cooperatives fell by 30% in May and June this year compared to what their farmers usually harvest during those months, he said.
“Climate is really affecting our farmers,” Mr Ngeno said. “There has been a complete change as far as the weather is concerned.
“It is very serious.”
In January, an unprecendented hail storm damaged thousands of tea plants in the district of Kabartegan, with Fintea estimating losses of 20,000 to 30,000kg daily over four months as the plants recovered.
Lilian Mutai Levin Langot, from the village of Kesebet, was among some 500 tea farmers who lost significant earnings when the storm wiped out her farm.
The 48-year-old smallholder farmer told the Press Association: “It was scary. The hailstones hit everything. On the tea plants, only the stems remained.
“I could not pick anything. It meant there was no income. There was nothing. We just had to survive.”
While she normally earns around 120,000 Kenyan Shillings (Kes) annually (£692), this will likely drop to no more than 90,000 Kes (£520) in 2026.
Ms Langot said she has taken out a loan to get through the year but has still struggled to pay for healthcare fees, school fees for her son and the upkeep of her infant granddaughter.
And having bought a cow and calf to diversify her income, the farmer said she was unable to buy enough feed, so the cow stopped producing milk, and both eventually died.
“It was so hard,” she said, adding that she is “very worried” about such a storm happening again.
“It will be so bad on us,” she said. “When we see the rain, we are just hoping: ‘Don’t let it be the hailstones. Let it just be the rain’.”
Meanwhile, Paul Kipsigei Koech, 50, who lives in nearby Chepchabas, told PA that he is earning so little from his tea farm that he can only provide one meal of mushed-up maize each day for his seven children, wife and elderly father.
Extreme weather events are now happening “once a year”, he said. “You can’t predict like we usually do in the previous (years).”
This, alongside the rising cost of living, is putting further pressure on his ability to make ends meet, with his current income sitting at around 3,000 to 4,000 Kes (£17 to £23) a month, equivalent to less than £1 a day.
“The income is really low to support the entire family,” he said, adding that he is also 80,000 Kes (£462) in debt.
“It is not enough. It is very scarce,” he said. “There is no breakfast. No lunch.”
Asked what he would spend the money on if he received a higher price for his produce, Mr Koech said he would pay the fees so his children – the youngest of which is six – could go to school and eventually help to support the family.
Kenya, which supplies half of all the black tea consumed by Britain, has seen farmers facing unpredictable climate conditions, lower production and quality levels, and rising input costs in recent years (PA)
“I do not want them to come back to pick tea. I want them to go forward and even get different jobs than what I do,” he said.
Meanwhile, Gladys Maiywa, 50, also from Chepchabas, also earns around 3,000 Kes (£17) a month to support her eight children and sometimes less depending on the weather.
She similarly has sunk 19,000 Kes (£109) in debt to pay for school fees and has an overdraft in the bank of 3,000 Kes.
“It’s very difficult,” she said. “If we get droughts for one, two or three months, we don’t get money. We can’t harvest anything.”
Ms Maiywa said she would spend additional income on her children, their education and build a new home to replace the basic hut they all currently live in.
“I want to see an increase to the rate of pay for our tea,” she added.
And Philip Kitur, a 66-year-old farmer based near Kericho Town, said he has produced 50 per cent less tea than usual for July as climate change and unfair trade practices hit his income.
He said: “A long time ago, the weather was very, very reliable but now the weather patterns have changed.”
His income “just covers the production costs right now”, he said, adding that he has to look for other means of earning money to cover his household’s needs.
“I expect to see less profit this year because of the dry period. We don’t know what’s to come,” he said. “It is very painful.”
These areas are seeing more volatile and extreme weather this year, including wetter conditions in January when it is usually dry, hot temperatures in July when cooler conditions are expected, storms and drought. (PA)
Their stories come against a wider backdrop of Fintea seeing a drop in the amount of tea it sells on Fairtrade terms from around 5 per cent five years ago to less than 1 per cent today.
This means its farming cooperatives receive less money from “premium payments”, which they can use to invest in climate resilience measures or social impact projects.
Supermarket Lidl last week announced it would be sourcing more tea from Fintea on Fairtrade terms and pay additional money to boost farmers’ incomes, for a new tea called “Way To Go!”, which will hit shelves on Tuesday.
Fintea said the commitment means the percentage of tea it sells on Fairtrade terms may increase to around 2.6 per cent in the coming years.
But Fairtrade is urging more businesses to source tea on Fairtrade terms as the organisation marks the start of its annual “Fairtrade Fortnight” campaign on Monday.
Kerrina Thorogood, partnerships director at the Fairtrade Foundation, said: “Today, just one in five tea farmers in Kenya earns enough income each month to support their families with the essentials.
“As a result, many struggle to invest in their farms, adapt to climate change, and plan for the future.
“Addressing this challenge requires businesses to take responsibility for the prices they pay.”
Nuvau Minerals (TSX-V:NMC) has intersected 17.37 grams per tonne gold (Au) over 2.4m at its Thundermine Project in Québec, Canada, about 50m shallower than previous hole TH-26-08.
The intersection from hole TH-26-11 sits within a broader 165m mineralised interval, providing an additional pierce point between TH-26-08 and historical drilling.
CEO Christina McCarthy says the result demonstrates continuity of the mineralised system.
“TH-26-11 is a 50m step-out from TH-26-08 and demonstrates continuity of the system. The hole returned 17.37g/t gold over 2.40m within a 165m mineralised interval, in the same altered tonalitic host and quartz-tourmaline vein array intersected throughout the program,” McCarthy added.
Gold grades and vein density vary through the tonalitic intrusive, with discrete ‘higher-grade’ veins within broader zones of ‘lower-grade’ veinlet and disseminated mineralisation.
McCarthy notes the Thundermine property has not been systematically tested in over 40 years. The company interprets the results as consistent with a Val d’Or-analogue orogenic gold system within a fractured intrusive host.
The system remains open along trend to the southeast and at depth, with assays from six holes pending from the 2026 summer program.
Nuvau Minerals is a Canadian explorer focused on gold, copper, and zinc across its 100%-owned Matagami property in Québec’s Abitibi region.
Write to JC Villarba at Mining.com.au
Main image: Nuvau Minerals
https://mining.com.au/nuvau-extends-gold-mineralisation-50m-from-high-grade-intercept/
In August, total exports of copper wire rod (HS codes 74081100 and 74081900) increased both YoY and MoM. The specific data are as follows:
According to customs statistics, China's total copper wire rod exports reached 20,900 mt, down 12.15% MoM but up 29.52% YoY. Exports of refined copper wire with a maximum cross-sectional dimension exceeding 6mm stood at 10,400 mt, down 26.85% MoM but up 36.67% YoY. Monthly exports of other refined copper wire reached 10,500 mt, up 9.39% MoM and up 23.19% YoY.
In August 2026, copper wire rod exports (HS codes 74081100 and 74081900) continued to pull back, mainly due to three factors: first, copper prices kept rising, suppressing downstream procurement demand; second, weather conditions caused port congestion, driving up imported copper premiums and export costs; third, export vessels were delayed at ports and shipments slowed, with the export pace clearly slowing down. By trade mode, China's copper wire rod exports in August 2026 remained dominated by processing trade. Processing trade with imported materials accounted for 59.98% of exports, and processing trade with supplied materials accounted for 30.15%, together making up 90.13%. In addition, Entrepot Trade by Customs Special Control Area accounted for 7.66%, and Ordinary Trade accounted for 2.19%.
By destination, the top five export markets for China's copper wire rod in August 2026 were Malaysia, the Philippines, Thailand, Vietnam, and India, together accounting for over 60% of total exports, with regional concentration declining somewhat. Specifically: affected by copper prices shooting up and high container costs, China's copper rod exports to Saudi Arabia fell sharply by 99.96% MoM; South Africa saw notable export growth due to a low export base in the previous period combined with concentrated release of rigid demand in August.
In summary, China's copper rod exports remained weak in August, mainly due to high copper prices suppressing downstream demand, overseas demand recovery falling short of expectations, and port congestion caused by weather. Entering September, although the traditional peak season has begun, copper prices remain elevated, and with imported copper premiums rising, export processing fee quotes have moved up somewhat, while demand has yet to show clear improvement. Copper wire rod exports in September are expected to rebound only slightly.
According to market participants, the upward pressure in the European long steel market is becoming increasingly tangible. However, market fundamentals are not strong enough to suggest a long-term trend, as the price increases appear to be mostly cost-driven.
“The market in Germany is picking up and prices will certainly increase,” one market participant stated. “However, competition from traders in the local market is strong, as inventories were still full of material purchased at lower prices after the summer period,” another commented.
As for Poland, a wide gap has been reported between domestic rebar prices. Sources have reported prices from different mills ranging from a low of around €600/mt delivered to a high of around €655/mt delivered. On the one hand, cost pressure would push prices upward, and mills are reported to be seeking to raise both rebar and wire rod prices by around €20/mt. At the same time, however, demand remains weak and market uncertainty is preventing mills from taking a clear position.
Although September has historically been a month when attempts are made to raise prices following the end of the summer low season, this year energy, gas, transport and logistics costs are weighing more heavily on the market. “Visibility is very, very limited,” a source commented, “also because, at the end of the day, demand always determines the trend. Once the outlook for October becomes clearer, we will have a better idea of how the year will end.”
In the import segment, Turkey has increased prices by around €20/mt week on week for both rebar and wire rod, bringing them to €585-590/mt CFR and €590-600/mt CFR, respectively, though no sales have been reported. As for exports from Egypt, prices have been reported at around €560/mt CFR for rebar and €580/mt CFR for wire rod, up by €15-20/mt compared to the last reported levels on September 4.
€1 = $1.15
Author: SteelOrbis Editorial Team
https://eurometal.net/upward-pressure-mounts-on-european-longs-prices-but-demand-fails-to-take-off/
Gian Estrada
Sun, September 20, 2026 at 5:28 AM GMT+1
Key Takeaways
Why Nucor Stock Fell 6.4% After a Q3 EPS Miss on Guidance
Nucor Corporation (NUE) stock dropped 6.4% on Friday, September 18, after the steelmaker guided third-quarter earnings well below what Wall Street had penciled in. Nucor forecast Q3 diluted EPS of $5.55 to $5.65, compared with the $5.89 analysts polled by LSEG expected.
The shortfall traces back to what won't show up again. Second-quarter results carried a $130 million cash refund tied to prior raw material procurement costs inside the steel mills segment. They also included a $61 million non-cash gain from a higher valuation on Nucor's stake in Helion Energy, worth $0.20 a share on its own. Neither repeats in Q3.
Raw materials earnings are now expected to fall on lower pricing and weaker shipments. Steel mills and steel products should still improve on higher average selling prices and stable volumes, but rising corporate and elimination expenses eat into that gain. Nothing here points to a demand problem. It points to a quarter that leaned on items that don't recur, and a Street that had priced in a repeat performance.
That's the whole story behind Friday's drop: Nucor stock got repriced for losing its Q2 tailwinds, not for losing its business.
Nucor Stock's Bulls Still Outnumber the Bears Despite the Miss
The 20 analysts TIKR tracks on Nucor stock lean firmly bullish even after Friday's drop. Eleven carry buy ratings, three rate the stock outperform, four sit at hold, one carries no rating opinion, and one has it at sell. The mean target sits at $285, 15% above Friday's $248 close.
Street Analysts Target for NUE Stock (TIKR)
That gap has held up through a run that already looks stretched. Fourteen months ago, Nucor stock closed at $138 against a mean target of $148, a 7% premium. By July 2026, the stock had rallied to $221 and the mean target had climbed to $260, an 18% gap that only widened as the price rose. Coverage grew right alongside it, from 13 analysts issuing price targets a year ago to 16 today. Analysts kept raising targets faster than the stock could close the distance, and Friday's guidance cut is the first real test of whether that chase was justified.
https://finance.yahoo.com/markets/stocks/articles/nucor-stock-fell-6-4-042851654.html
State-owned mining company NMDC is targeting iron ore production of 60 million tonnes (MT) in the current financial year, its Chairman and Managing Director Amitava Mukherjee toldThe company had crossed the 50 MT production mark in FY26 and is now looking to increase output through its existing mines and assets of NMDC-CMDC Ltd NCL ), its joint venture with Chhattisgarh Mineral Development Corporation NMDC has set a longer-term target of producing 100 MT of iron ore by 2030-31. The expansion is aimed at supporting India's growing steel production capacity and ensuring adequate availability of iron ore for domestic steelmakers.
The company has applied for environmental clearances for some of its deposits with the Ministry of Environment Forest and Climate Change. It is also developing infrastructure required to expand production from its mining assets. As part of its capacity expansion plans, NMDC has invited bids for infrastructure such as belt conveyor systems, crushers and breakers. The company operates mechanised iron ore mining complexes in the Bailadila region of Chhattisgarh and at Donimalai in Karnataka NMDC is also looking to diversify its mineral portfolio beyond iron ore. The company plans to commence commercial thermal coal production and is developing a coking coal mine as part of its broader expansion strategy. The miner aims to increase the contribution of minerals other than iron ore to at least 20 per cent of its revenue by 2030.
NMDC currently contributes around one-fifth of India's iron ore requirement and is expanding its mining operations to meet the country's growing demand for the key raw material.
