Latest News | KIOCL, Glencore Ink Pact for Iron Ore Pellet Supply
Get latest articles and stories on Latest News at LatestLY. State-owned KIOCL on Tuesday said it has signed a non-binding memorandum of understanding (MoU) with Glencore International AG (GIAG) for supply of iron ore pellets.
New Delhi, Oct 26 (PTI) State-owned KIOCL on Tuesday said it has signed a non-binding memorandum of understanding (MoU) with Glencore International AG (GIAG) for supply of iron ore pellets.
KIOCL, under the Ministry of Steel, is a pellet making company.
In a regulatory filling, KIOCL said the MoU with Switzerland-based GIAG was signed on Monday.
"KIOCL and GIAG signed a non-binding MoU...whereby KIOCL will supply iron ore pellets to GIAG for further sale by GIAG in South Korean, European and non-Chinese market," it said.
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The MoU shall be valid for a period of one year.
Iron ore pellets are used for making steel through the non blast furnace route.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)