Supreme Court order will revive steel industry: Karnataka industries

Bangalore: The Supreme Court order lifting ban partially on mining operations in Karnataka would revive the iron ore production and provide relief to over 10,000 workers who were rendered jobless due to the restrictions, industry has said.

The move may not pave the way for iron ore exports immediately, it will provide a relief for over 10,000 mining employees and thousands of transporters, who were rendered jobless due to the ban, and also revive the sponge iron units in and around Bellary, it said.

"The lift would not only increase production of iron and steel and generate employment opportunities but also help in realisation of the investment proposals signed during GIM (global investors' meet) 2010 and GIM 2012 in this sector", President of Federation of Karnataka Chambers of Commerce and Industry (FKCCI) K Shiva Shanmugam said.

The Supreme Court gave its green signal for extraction of iron ores on 18 leases subject to certain conditions being fulfilled.

"It will also help growth of Bellary and Chitradurga districts and contribute to the exchequer of the state", he added.

Shanmugam thanked CEC and the efforts of the state Government for their report which recommended resumption of operation in these 18 mines.

Partially lifting its ban on mining operations in Karnataka ordered more than a year back, the Supreme Court on Monday gave its green signal for extraction of iron ores on 18 leases subject to certain conditions being fulfilled.

A three-judge forest bench headed by Justice Aftab Alam accepted the report of the apex court-appointed Central Empowered Committee (CEC) which had said 18 leases be allowed to carry on their business in the districts of Bellary, Tumkur and Chitradurga as they have not violated any rules.

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