Increasing cap on iron ore mining in K’taka to help expansions: Kalyani Steels

18 December 2017

The Supreme Court increased the cap on Karnataka iron ore mining from 30 million tonnes to 35 million tonnes per year. IT has increased the cap for category A&B, which envisages all operational mines in the state. However, there is no cap on category C iron ore mines in the state, said the Supreme Court.

Reacting to the news, RK Goyal, MD, Kalyani Steels said the news has come as a big relief and now the cap on individual mines also needs to be lifted as well, so they can mine and produce 35 million tonne.

This will lead to availability of iron ore because of which we were holding back our expansions, said Goyal.

He said, currently around 27-28 million tonnes of iron ore is mined in Karnataka.

Many more mines should also be opened, he added.

However, Goyal does not expect any change in the price of iron ore because they are already very hire.

Source: Moneycontrol