Steel ministry calls for Early Operationalisation of Iron ore mines in Odisha

Union Minister of Steel Dharmendra Pradhan hold a meeting with Odisha Chief Minister Naveen Patnaik and Union Minister of Mines, Coal and Parliament Affairs Pralhad Joshi to resolve the issues regarding operationalisation of the auctioned iron ore mines in Odisha where production and dispatch has still not commenced. The lease of these mines had lapsed on 31st March, 2020, following which fresh auction was carried out. 

Minister highlighted on the need of an early resolution to start the mines operation by the Ministry of Mines so that seamless availability of raw material to the end user is ensured. resulting in reduced price of the iron ore which has gone up high in the last one month due to adverse market sentiments, emerging primarily from reduced supply of iron ore in Odisha from the recently auctioned mines. Odisha from Jan 2019 to Nov 2019 has produced 123.8MT iron ore, total production in the same period in current year has been only 98.2MT.

Out of the recently auctioned 24 mines in Odisha, only 5 have been able to start production and dispatch till date. This is the main reason for shortfall in iron ore supply in the country. The state Odisha holds immense importance for the Indian steel industry with a major share of raw material reserves and steel production capacity. 

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