There is something to cheer for Indian steel and mining industry, who have been struggling to survive post Supreme Court’s decision on suspending mining operations for those running under second and third deemed renewal.

Against Writ  Petition No.15593 of 2014, Odisha high court has allowed M/s Ramesh Prasad Sao (R.P. Sao) for dispatches of stocked Iron ore  at mines head located in mineral rich belt of Barbil (Odisha). These permits are valid for 3-months (i.e from 4th Sep- 4th Dec 2014). However, mining is still restricted.

RP Sao is one of the largest  merchant miner in the sector , with an annual capacity of 4.5 million tonnes (MnT) per annum. Sources say, currently miner has about a million tonne of Iron fines stocked, which can be liquidated.

This will certainly give some relief to Steel and Pellet makers who are finding tough to get Iron ore from domestic market.

Speaking to a senior official at Director of Mines, Odisha, “State government’s consent to sell 26 MnT Iron ore, laying at mines head of operational (14 MnT) and non-operational (12 MnT) private mines. But we are waiting for final approval from the ministry.”

It gives a hope for other miners, who have been non-functional since May 2014 but are also not allowed to liquidate their already mined stock.

• [Editor:Sophie]