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LATEST NEWS UPDATES | Orissa forms panel for iron ore distribution policy-Ruchira Singh

Orissa forms panel for iron ore distribution policy-Ruchira Singh

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published Published on Oct 31, 2012   modified Modified on Oct 31, 2012
-Live Mint

The ministerial committee will formulate policy on the distribution of iron ore and other minerals 

Orissa is forming a ministerial committee to formulate a policy on the distribution of iron ore and other minerals, suggesting supplies might get tightened further after a mining ban in Goa and negligible availability in Karnataka.
 
A notification on this was issued late on Tuesday.

The committee has to “suggest measures of making iron ore, manganese ore, bauxite and chrome ore available to mineral-based industries in a fair and equitable manner...” the notification reads.
 
Orissa is the largest iron ore-producing state and any disruption in its supplies will hit hundreds of sponge iron units in east India that contribute to India’s steel production.

While big companies such as Steel Authority of India Ltd and Tata Steel Ltd have their own captive mines, traders say many mid-sized companies are importing iron ore pellets from West Asia, Europe and Australia.

Hundreds of really small sponge iron units face the prospect of running at low capacities if iron ore supplies fall as they can’t afford to import.
 
The committee has three months to submit its report, the notification said.

Live Mint, 31 October, 2012, http://www.livemint.com/Politics/nuagsvGMlWGOAIEpfAPdlI/Orissa-forms-panel-for-iron-ore-distribution-policy.html


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