CEC clears 8 mining leases in Karnataka

Mining likely to restart by August

The Supreme Court-appointed Central Empowered Committee (CEC) to probe illegal mining in Karnataka has accepted the reclamation and rehabilitation (R&R) plans for eight mining leases and granted permission to restart iron ore mining in Karnataka.

These mines together would bring about 5.5 million tonnes per annum (mtpa) of iron ore. Of that, Sesa Goa would contribute about 2.5 mtpa.

However, these mines are yet to get their plans approved by the Indian Bureau of Mines (IBM). Once approved by IBM, they would start mining, a top state government official said. The mines approved by the CEC are of RBSSN, B Kumar Gowda, VESCO, Nadeem Minerals, Mineral Enterprises Ltd, Sesa Goa, Mysore Minerals Ltd and Zeenath Transport. State-owned mining giant NMDC has already been permitted to mine up to one mtpa of iron ore.

HOPES OF RESUMPTION (Stock movement on Wednesday)
Company	Closing price	% chg*
Kalyani Steels	62.9	16.2
Sterlite Industries	110.9	5.3
JSW Steel	725.5	4.4
Sesa Goa	203.6	4.3
JSPL	466.3	3.4
Closing price in Rs /share; *Over previous close              Source: BSE

“As directed by the Supreme Court, the Indian Council of Forestry Research and Education (ICFRE) has started preparing the R&R plans of mining companies in both Category A and B mines in the state. Of the reports of nine mining leases submitted by it, the CEC has cleared eight leases to resume mining. These mines, subject to IBM approval, are likely to resume mining by early August,” said

H R Srinivasa, director, department of mines and geology, Karnataka.