Help Desk -
9958816305, 9810335381

Steel Sector May Face Iron Ore Shortage Next FY

Steel News - Published on Fri, 18 Oct 2019

Image Source: SG
The Pioneer reported that with almost all the iron ore leases expiring on March 31, 2020, steel sector industries are worried about acute shortage of raw materials for next two-three years leading to a serious crisis as it is unlikely that the auction process will be completed before March 31, 2020. And even if the process of auction will be completed, getting statutory clearances will take a long time, even for years together. Sources in the Union Ministry of Steel admit that the country is likely to face shortage of about 50 million tonne of iron ore in 2020-21 and it will adversely affect the steel sector. Steel producers are very much worried over the emerging critical scenario as with expiring of the mining leases all on a sudden, there will be stoppage of production of iron ore from these mines.

Though the State Government is trying hard to go for auction of the iron ire mines, but it will take at least three long years to get other statutory licences like forest clearance, environment clearance and a host of other clearances.

The Pioneer

Source :

Posted By : Amom Remju on Fri, 18 Oct 2019
Related News from Steel segment