SAIL, Tata Steel set to resume operations at iron ore mines in Odisha

SAIL along with Tata Steel are set to resume operations at their captive iron ore mines in Odisha after Odisha government gave its approval for renewal of mining leases. The decision will impact seven mines belonging to the two steel majors, out of the 26 mines that had to close down due to a Supreme Court order on May 16, 2014 which banned operations in mines working on second deemed lease renewal. Following the ban, the entire process for granting approval for lease renewal was fasten by the state government to minimise disruption of mining activities and royalty losses. Moreover, the state government's approval would lead to renewal of lease for the next 20 years.