Supreme Court's decision to extend ban might impact Sesa Goa & JSW

Following the apex court decision, stocks of Sesa Goa and
JSW Steel hit a yearly low on the BSE. Sesa Goa, which operates A Narrain mine
in Chitradurga accounts for close to 15 per cent of Sesa Goa's volumes.

Similarly,the decision is also going to impact JSW Steel
which has been sourcing iron ore from Chitradurga and Tumkur districts, in the
aftermath of mining suspension in Bellary.

Meanwhile, the court has said that the macro-level
Environment Impact Assessment (EIA) is being done in Bellary by the Indian
Council of Forestry Research and Education which should cover Tumkur and
Chitradurga too.

The apex court was suggested that MMTC and MSTC could be
allowed to sell the accumulated iron ore stock pile. In response to it, the CEC
has been asked to submit on September 2 the name of the government agency that
would be in charge of sale of existing stock and keeping the accounts of the
sale proceeds including royalty.