As per the recent notification published from Steel & Mines Department, (Govt. of Odisha) has allowed establishment of intermediate storage depots (stock-yards) to merchant mining lessees whose leases are expiring on 31st Mar’2020.
Key takeaways:
1. The storage license shall be valid only for iron ore, manganese ore or chromite ore.
2. Validity for the storage of ore will be maximum two years upto 31st Mar’2022.
3. The stock yard will be used only for the ore procured by the licensee specifically from lease or leases expiring on 31st Mar’2020. The sale of material is also permitted through traders.
4. Prior to this, state government through a previous notification allowed the state based industries located within Odisha to create facilities for iron ore storage till March 2022. Now merchant miners have also received permission to stock iron ore whose mining lease are expiring on 31st Mar 2020.
The recent development by state govt. to allow merchant miners to store ore is likely to prove helpful in terms of huge quantity of stock lying in these areas and is also in interest of smooth operations of mines after the expiry of validity of existing leases.
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