SteelMint had with no intention but wrongly
shown the logo of M/s Sarda Energy & Minerals Limited instead of Sarada
mines for this news dated 03 July 12 on website. We apologize for the
mistake Following
is the news published on 03 July 2012:
The Odisha government have asked to stop iron
ore production at Thakurani mine in Keonjhar district belonging to Sarda Mines
Pvt Ltd on violation of Rule 37 of Mineral Concession Rules, 1960. Sarda Mines
sells the entire output from the mine to the Jindal Steel & Power (JSPL).
However, JSPL has denied the news.
The inquiry going against Sarda Mines with
regards to loss of VAT & Royalty to the state and violation of Rule 37 of
MCR, 1960 will continue to play an overhang on the stock. A detailed report
with further details on the above matters is to be submitted to the Mines
Ministry, Odisha within a month after another visit to the mines. The committee
had submitted its report on the above issues to Odisha Steel & Mines
department based on the visit conducted on August 4, 2011.
Sarda Mines met more than 60% of iron ore
requirement of JSPL.
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