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Supreme Court order sparks hope of hike in iron ore output, easing prices

The closure of working iron ore mines triggered unprecedented hikes in prices by both Odisha miners and NMDC

iron ore mining, mining, iron ore

The SC also ordered the monitoring committee to act immediately in regard to the enhancement proposal filed by 13 mining leases

Jayajit Dash
The Supreme Court order allowing relief to Odisha's defaulting miners to pay off their pending compensation with interest has revived hopes of growth in iron ore production in the state.
With one large merchant miner- Essel Mining & Industries making its payment in full after the stipulated December 31 deadline and a few other miners expected to follow suit, iron ore production in Odisha is expected to pick up steam from the next fiscal.
Apart from Essel Mining, state-owned Industrial Development Corporation Ltd (Idcol) has also paid its share of compensation of Rs 1.05 billion after the court ordered deadline. The apex

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First Published: Jan 31 2018 | 5:17 AM IST

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