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Indian iron ore mining mess - Fallout on steel sector
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Monday, 01 Aug 2011
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FE reported that barring JSW Steel, the prospects of the country’s top three steel producers Steel Authority of India Limited, TATA Steel and Essar Steel will not be impacted by the ban on iron ore mining in Bellary, Karnataka, by the Supreme Court last week.

But the sponge and pig iron mills and allied industries in Bellary, Koppal, Chitradurga and Tumkur fear they may have to shut down as they rely heavily on iron ore produced in Bellary.

Besides the state’s 16 steel mills that include JSW Steels, Kalyani Steels, Mukand Steels, Kirloskar Ferrous, VISL Bhadravathi, MSPL and BMM Ispat, sponge iron manufacturers in Tamil Nadu and Goa also source iron ore from Karnataka.

The ban could impact the agreements signed by major steelmakers to invest in the state after the Global Investors’ Meet last year. Companies like ArcelorMittal, POSCO, Bhushan Steels, Essar Steels and NMDC are working to establish units here.

(Sourced from FE and The Age)

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