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Iron Ore supply to Steel makers to be disrupted: FIMI

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MUMBAI (Scrap Register): With the mining leases of 329 private mines slated to expire on March 31, apex mineral body Federation of Indian Mineral Industries (FIMI) believes that iron ore, a raw material used in steel-making, will be the worst hit from the move.

The 329 mines, including 48 operative and 281 non-operative ones, are spread across 10 states, Federation of Indian Mineral Industries (FIMI) said.

"Raw material for steel industry, iron ore, would be the worst hit, since out of 329 mines 232 are of iron ore alone - 24 operative and 208 non-operative iron ore mines," FIMI Secretary General R K Sharma said in a statement. PTI reported.

“Things are not that simple as the government might be thinking. It is going to be a panic situation for a lessee if it is not able to retain the mine,” he said.

The mining leases of 48 operative mines, 24 in Odisha, 6 each in Jharkhand and Karnataka, 5 in Gujarat, 3 in Andhra Pradesh, 2 in Rajasthan, and one mine each in Himachal Pradesh and Madhya Pradesh, will expire on March 31,2020.

Mining leases of 184 non operative mines in Goa, 42 in Karnataka, 12 each in Jharkhand and Madhya Pradesh, 9 in Maharashtra, 7 in Odisha, 6 each in Andhra Pradesh and Gujarat, 2 in Rajasthan, one in Himachal Pradesh will also expire.

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