The company has 70MnT of sub-grade iron ore with average quality of 59% Fe content and expects to sell off these. Iron ore fines are turning into Gold' for SAIL: We expect SAIL to be major beneficiary of Government relaxation to sell 25% of previous FY iron ore captive production along with sub-grade iron ore fines that are accumulated over past half century on expectations of scarcity of material due to lease expiries of iron ore mines in Odisha. A major turnaround in SAIL with favorable scenarios building in is expected to unlock great value for its stakeholders. SAIL is expected to sail with the wind from iron ore mine lease expiries and uptick in steel demand to boost its profits and reduce leverage.
US-China trade agreement is expected to revive metals. Permission from government to sell 25% of Iron ore production of previous fiscal and iron ore fines accumulated as waste over past 5-6 decades to add ~10% to its EBITDA.
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Sign in and start exploring all the free, organizational tools for your email. to emerge as strong winner on the back of strong expectation of revival in domestic demand growth across Infrastructure space backed by government spending and initiatives. Take a trip into an upgraded, more organized inbox. We are seeing Steel Authority of India Ltd.
