BS reported that putting an end to the fierce scramble for India's iron ore resources, the government has decided to split the Chiria iron ore mines in Jharkhand into two and give at least half the reserves to Steel Authority of India Limited for its expansion plans and that the other half will be kept for development by the private sector later.
As per report this decision was taken at a meeting attended by Mr AK Basu chief secretary of Jharkhand, senior steel ministry officials Secretary Mines Santha Sheela Nair and Mr SK Roongta chairman of SAIL.
Mr PK Rastogi steel secretary said that “The meeting was called to sort out issues related to Chiria mines. There are positive developments from the meeting."
As per report, the state government took the decision in favor of SAIL because the world’s largest producer had not made much headway in the project.
The decision may come as a blow to the plans of world’s largest steel producer ArcelorMittal which had virtually threatened to withdraw from the state if it was not given resources from Chiria.
(Sourced from http://www.steelguru.com/news/index/2009/10/09/MTE1MjU0/Government_to_split_Chiria_mines_iron_ore_deposits.html)
Friday, October 9, 2009
Government to split Chiria mines iron ore deposits
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