Bengaluru, Sept 1: The Supreme Court on Thursday refused permission to Vedanta Group to export iron ore mined from Karnataka. The court, however, allowed the National Mineral Development Corporation (NMDC) to continue with the dual pricing of the minerals.
The court rejected the prayer made by the Vedanta group to refer the matter to the High Court for adjudication.
The Bench said that the NDMC is free to fix the price of minerals and continue with the dual pricing. Vedanta had challenged the decision by a court appointed monitoring committee. The committee had denied permission to export iron ore.
A plea filed by the Karnataka Iron and Steel Manufacturers' Association, which sought to do away with the NDMC's policy of dual pricing of iron ore, was also rejected by the court. A directive to the monitoring committee to fix a base price for iron ore was also rejected.