Iron Ore supplies affected in Orissa State in India
October 28th 2011 20:28
Link: www.businessfork.com
The Government of Orissa has issued notice to iron ore mining companies to stop the further production and supply of iron ore along with notices served to all traders and exporters to stop supplies of Iron Ore from mines located in Keonjhar district.
These immediate steps have been taken by the State Government to track the companies indulged in illegal mining and supply of iron ore from state. The Government also has asked the major mining and supplying / trading companies to submit their past four year records of iron ore procurement along with audited balance sheets of the company.
After the ban on iron ore mining in Karnataka and restriction over supplies of iron ore from Goa, most of the steel plants are now purchasing iron ore from Orissa, which has increased the demand and could lead to major illegal mining scams. The steps taken by the State Government can disturb the supplies to steel plants which are now completely depended on the iron ore from Orissa State.
The exports from India for Iron Ore have dropped by 44 percent approximately. The higher taxes have also affected the mining industry in India.
| 26 |
| Vote |
Add To: 
subscribe to this blog