The Supreme Court has allowed restarting of mining activities
under category 'A' of iron ore mines, or those of more than 50 hectares, in southern
Karnataka, said a lawyer on Friday.
So far, only state-run NMDC was allowed to mine up to 1
million tonne per month.
Iron ore mined in Karnataka state will also
continue to be sold through electronic auction for at least another two
years, the Indian Supreme Court ruled last Friday.
But, miners are now permitted to determine the quantity of
ore stocks they want to offer for auction and the base/floor price for their
materials.
According to market players, “We are now used to the
e-auctions. Even though the auction
route is not a good mechanism, at least there will be guaranteed ore supplies”.
Leave a Reply