Jindal Steel & Power (JSPL’s) iron ore availability difficulty does not seems to lessen. Odisha government is likely to file Special Leave Petition (SLP) against HC order favouring JSPL’s lifting of iron ore stock from Sarda mines.
“We will be filing a special leave petition in the Supreme Court against the High Court order over JSPL’s lifting of iron ore stock lying at Sarda mines”, said Mr. Deepak Mohanty (Director of Mines, Odisha) in conversation with SteelMint.
Owing to lack of necessary clearances, Sarda mines had been closed since Apr’14. After long gap of 2 years, on 8 Apr’16, Odisha High Court ordered the steelmaker to lift its iron ore stocks lying at Sarda Mines.
It is estimated that Sarda Mines has inventory that amounts to more than 10-11 MnT. Hence, this positive development might give a big relief to the steel maker in terms of iron ore sourcing.
Last week (on 13 Jul’16) Odisha High Court directed the state government to allow JSPL to fast track the procedures and allow the steel maker to lift iron ore stock lying at Sarda mines within 4 weeks. However in the latest update received, Odisha govt. is about to approach the Apex Court against HC order on lifting of stock.
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