Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm has received Government’s approval to extend its long term agreements (LTAs) for three years till 2014 for supply of iron ore to Japanese Steel Mills (JSMs), South Korean steel giant Posco and Chinese steel mills. The proposal to permit MMTC to renew the long-term agreements for supply of iron ore was approved by the Union Cabinet.
On March 31, 2011, the long-term agreements for supply of iron ore for five years (2006-11) expired away, and the Japanese steel mills had formally requested MMTC to renew the agreements with effect from April 1, 2011. Under the agreement, MMTC is supplying iron ore of grade (plus) 64 Fe, or high grade content, to Japanese, Korean and Chinese steel mills.
MMTC is one of the leading companies in India which deals in agricultural commodities, fertilizers and minerals. Besides, it is also an importer of gold and silver. Presently, the trading company has an overseas office in Singapore.
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| Rashi Peripheral | 544.25 |
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