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Friday, December 30, 2011

Karnataka based steel mills seek early resolution from SC

Friday, 30 Dec 2011

Business Standard reported that steel companies in south India have approached the Supreme Court again, seeking permission for clean iron ore mining companies to restart operations in Karnataka.

Mr Vinod Nowal director and CEO of JSW Steel said that “The stockpile of 25 million tonnes put up for sale through E auction would last till April 2012. To ensure continuous supply of to steel mills, it’s essential to restart the mining by at least clean mining companies. So, we have made a request to the apex court through the Karnataka Iron and Steel Manufacturers Association to give permission for clean mining companies.”

Mr Nowal said KISMA would make another appeal on January 20, when the apex court restarts hearing the case.

He said “There is a need for an urgent action in this regard, as the Karnataka government is yet to submit mine wise R&R plan to the court. It would be helpful for the steel industry if the court permits recommencement of mining in selected mines in Karnataka, as the state government may take more time to submit the plan.”

The state government has appointed the Indian Council of Forestry Research and Education to prepare the plan for each mine in the three districts. It is said ICFRE may take up to six months to complete the plan.

The Supreme Court, in its order on July 29, had ordered suspension of all mining activities in Bellary district. On August 26, the court banned mining in Chitradurga and Tumkur districts. So, 16 steel mills, including JSW Steel, Kalyani Steels Ltd, Mukand Steels Ltd, Kirloskar Ferrous, VISL Bhadravathi, MSPL Ltd, BMM Ispat Ltd and Sathavahana Ispat, are facing shortage of iron ore.

(Sourced from BS)

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