When Odisha Government auctioned 19 mines earlier this year it was meant to bring in greater transparency, efficiency and productivity. But five months down the line there are signs that it isn’t quite working out that way. 13 of the 19 new mine owners haven’t begin production. Some have not signed mining leases with the state government. A couple of others have surrendered their mines and a couple more had gone into litigation.
Takeaways:
- Odisha’s iron ore auctions have not taken off the ground leaving a vacuum in the market.
- Most of the 19 iron ore mines lie defunct as their new owners haven’t started production.
- Changes in mining policy expected soon could change some fundamental aspects of the trade.
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