Ore linkage report by April 30

Expects the recently notified govt policy on ore reservation for local units will ensure supply of raw material at fair prices

The inter-ministerial committee mandated to submit its report on long-term ore linkage for state based industries latest by April 30 expects the recently notified government policy on ore reservation for local units will ensure supply of raw material at fair prices.

"The state government does not have direct control on ore pricing as it is shaped by market forces. But we expect that our policy making it mandatory for standalone miners to sell at least 50 per cent of their excavated ore to state based end-use industries will make available raw materials at fair prices for the local units," Prasanna Acharya, finance minister and chairman of the panel said after meeting of the committee.

Steel & mines minister Rajani Kant Singh said, "The committee is going to submit its report on long-term ore linkage on or before April 30." The ministerial committee had interactions with the representatives of steel companies like Jindal Steel & Power Ltd (JSPL), Visa Steel and Bhushan Steel.