Govt to remove logistic cost to calculate metallurgical grade bauxite ASP

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However, after multiple industry representations and legal challenges, the ministry has recommended reducing this factor to 4.9 per cent to better align with actual bauxite costs.

ASP, which determines the value of estimated resources and the premium payable by auction winners, currently uses a conversion factor of 6.4 per cent based on the London Metal Exchange (LME) aluminium price.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Logistics Mining industry Minerals

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 22:47:32 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 109 words

Reading Time: 1 minutes read

Sentences: 5 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23365770

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