Iron Ore Mining In Odisha

The Supreme Court on Monday sought the Centre's response on whether any cap can be put on mining in Odisha keeping in mind the limited iron ore reserves in the state.

The Supreme Court today said that mining companies in Odisha operating without environmental clearance will have to pay a 100 per cent penalty to the state on the price of illegally extracted iron and manganese ores with effect from 2000-01.

To ensure raw material supply to its plants, Jindal Steel and Power Ltd (JSPL) may bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November this year.

Odisha, India's top iron ore producing state, is likely to renew the licences of 18 iron ore mines shut since last year, a state official said on Saturday, in a boost for local steel producers.

Prime Minister Narendra Modi's government last Monday issued an executive order under which states will have to auction off mines to "remove discretion in grant of mineral concessions".

The company has captive sources to run the 9.8 mtpa unit, but the raw material crunch cropped up following suspension of operations in a mine in Jharkhand and four mines in Odisha by respective state governments.

Mumbai-based Tata Steel needs more than 20 million tonnes of unprocessed iron ore per year to run its 10-million-tonnes-a-year steel plant in Jamshedpur. Most of its steelmaking capacity of 29 million tonnes is in Europe.

Favourable orders will likely assuage investor concerns over restrictions on company's captive mines, Deutsche Bank says in a note.

Tata Steel was the top gainer in Nifty with over 2 per cent gains. The Odisha government has allowed the company to operate its four iron ore mines in the state till January 28.

The Odisha government has allowed Tata Steel to operate its four iron ore mines in the state till January 28 as per an interim order of the Orissa High Court.

Facing iron ore crunch for the first time in over 100 years of its history, Tata Steel is now operating its 9.7 million tonnes per annum facility in Jamshedpur with raw material bought from domestic sources besides imports.

After Karnataka and Goa, the Odisha government could be rocked by charges of illegal mining. A report by the Central Committee set up by the Supreme Court has found that 187 iron ore and manganese mines in the state are guilty of a host of violations, including mining in violation of environment and forest laws, and the excess mining of ore.

Mining curbs in India in states such as Goa and Karnataka along with mine closures in top producing Odisha have limited iron ore availability in the country, opening the door to more imports this year, which could help absorb some of the surplus in global supply.

The steel major is facing iron ore shortages after a Supreme Court order in May forced the closure of nearly half the mines in top producing state Odisha, where the company mines and sources iron ore.

The court had asked Odisha to decide on the renewals within six months, but the state has already allowed eight mines belonging to Tata Steel, Steel Authority of India and Odisha Mining Corp (OMC) to resume operations, Odisha's mines director Deepak Kumar Mohanty told Reuters.

The Supreme Court on Monday sought the Centre's response on whether any cap can be put on mining in Odisha keeping in mind the limited iron ore reserves in the state.

The Supreme Court today said that mining companies in Odisha operating without environmental clearance will have to pay a 100 per cent penalty to the state on the price of illegally extracted iron and manganese ores with effect from 2000-01.

To ensure raw material supply to its plants, Jindal Steel and Power Ltd (JSPL) may bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November this year.

Odisha, India's top iron ore producing state, is likely to renew the licences of 18 iron ore mines shut since last year, a state official said on Saturday, in a boost for local steel producers.

Prime Minister Narendra Modi's government last Monday issued an executive order under which states will have to auction off mines to "remove discretion in grant of mineral concessions".

The company has captive sources to run the 9.8 mtpa unit, but the raw material crunch cropped up following suspension of operations in a mine in Jharkhand and four mines in Odisha by respective state governments.

Mumbai-based Tata Steel needs more than 20 million tonnes of unprocessed iron ore per year to run its 10-million-tonnes-a-year steel plant in Jamshedpur. Most of its steelmaking capacity of 29 million tonnes is in Europe.

Favourable orders will likely assuage investor concerns over restrictions on company's captive mines, Deutsche Bank says in a note.

Tata Steel was the top gainer in Nifty with over 2 per cent gains. The Odisha government has allowed the company to operate its four iron ore mines in the state till January 28.

The Odisha government has allowed Tata Steel to operate its four iron ore mines in the state till January 28 as per an interim order of the Orissa High Court.

Facing iron ore crunch for the first time in over 100 years of its history, Tata Steel is now operating its 9.7 million tonnes per annum facility in Jamshedpur with raw material bought from domestic sources besides imports.

After Karnataka and Goa, the Odisha government could be rocked by charges of illegal mining. A report by the Central Committee set up by the Supreme Court has found that 187 iron ore and manganese mines in the state are guilty of a host of violations, including mining in violation of environment and forest laws, and the excess mining of ore.

Mining curbs in India in states such as Goa and Karnataka along with mine closures in top producing Odisha have limited iron ore availability in the country, opening the door to more imports this year, which could help absorb some of the surplus in global supply.

The steel major is facing iron ore shortages after a Supreme Court order in May forced the closure of nearly half the mines in top producing state Odisha, where the company mines and sources iron ore.

The court had asked Odisha to decide on the renewals within six months, but the state has already allowed eight mines belonging to Tata Steel, Steel Authority of India and Odisha Mining Corp (OMC) to resume operations, Odisha's mines director Deepak Kumar Mohanty told Reuters.