The apex court will hear on the allocation of the accumulated
iron ore inventory at Karnataka on September 2.
The Central Empowered panel will submit the methodology of
allocation and price, at which it is to be sold. Of the 25.88 million
tonnes, about 11 million tonnes is of higher grade.
“There is a clear visibility on the ore
that would come in the absence of mining. Since we need about 40,000 to 50,000
tonnes of ore daily, this allocation would reduce our dependence on alternate
states,” said a senior JSW Steel official.
JSW Steel had been talking to miners in Chhattisgarh and Orissa for alternate
supplies as the current inventory with the company will hold for about 10 days. The
unsold inventory will save additional costs for JSW as transport freight from
Chhattisgarh and Orissa would add about 500 to 700/MT.
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