Provisioned, expect limited impact from SC's ruling, say metal majors

Mining industry hit estimated at Rs 1.5 to Rs 2 trillion, companies to closely watch states for next move

Even though Wednesday’s Supreme Court (SC) order could result in a Rs 1.5-2 trillion impact on the mining industry, executives from leading companies noted that the impact might be limited  and some stated there are existing provisions.

Going forward, these companies will await further details and state actions before pursuing litigation, they added.

The recent SC order mandating the collection of dues retrospectively is expected to deal a further blow to the Indian mining industry. Arrears could exceed Rs 1.5-2 trillion, with mines in states like Odisha and Jharkhand being the most affected, according to a spokesperson for the