The Company
INTRODUCTION
IPM Commodities Pvt Ltd.
IPM Commodities Pvt. Ltd was established in the year 2010 with its base in Kolkata, India, with the sole purpose of being part of the “India growth” story by catering to the raw material requirements of the Indian steel industry - considered to be one of the backbones of any developing nation -by leveraging its parent company’s strength in this domain. This company was established as a subsidiary of the erstwhile Italiana Prodotti Minerali s.r.l (a proprietorship company that was established way back in 1966 to cater to the requirements of steel mills in Europe). Later in 2016, when a new entity named Minmet S.A.M. was established in Monaco by the same proprietors to provide better financial and commercial support to European operations, all the shares of IPM Commodities (IPMC) held by IPM s.r.l. got transferred in the process to Minmet S.A.M. IPMC thus became the Indian arm of Minmet S.A.M. to carry out the same type of business as earlier.
It was in the year 2021 that Assore Holdings, a privately held group engaged in mining, processing and marketing of a range of ores, minerals and metals to a number of countries via the UK-Domiciled subsidiary Assore International Holding, took over the majority shares of Minmet S.A.M. to consolidate the group’s international marketing businesses. As a result, IPM Commodities Pvt Ltd. became a subsidiary company of Assore International Holding as its major stakeholders. This has further augmented IPM Commodities’ strength as a link between Indian steel & allied industries and the global mining industry. This has also provided IPM Commodities with an access to the international marketing businesses of the group in different continents, thus getting tremendous support to explore various export/import opportunities with those countries/continents.
Presently, IPM Commodities is involved in selling Manganese Ore (which happens to be the flagship product), Iron ore, PCI Coal and Anthracite Coal to Indian Steel Mills, Ferro Alloys and Foundry Industries. This company also sells Metallurgical Coke to the Ferro Alloys industry in India.
IPMC (SINGAPORE) PTE LTD
In pursuance of its objective of providing solutions in terms of sourcing raw materials to the steel and allied industries, IPM Commodities felt the necessity of having its presence in Singapore through a subsidiary entity to facilitate transactions with Indian customers in foreign currencies, thus providing financially competitive offers to its customers. Eventually, IPMC (Singapore) Pte Ltd. was established in January 2017, with 75% stakes held by IPM Commodities. The objective of establishing this new company was to start a full-fledged trading business of various industrial commodities to cater to the needs of Indian steel mills and alloy manufacturing units. Having a presence in Singapore, IPMC Singapore has not only got access to international finance at a competitive price but also has got accessibility to the international market in terms of chartering a vessel, sourcing materials, and also diversified selling opportunities.
In the year 2019, IPM Commodities Pvt Ltd. purchased all the shares of IPMC (Singapore) Pte Ltd. from its JV partner, thus becoming 100 percent shareholders of the Singapore company.
