Supreme Court opens more mines, no fresh lease in Karnataka

Posted By:
Subscribe to Oneindia News
mining karnataka
Bangalore, April 18: The Supreme Court today said that no fresh lease will be given for mining in Karnataka but allowed more iron ore mines to resume production in the state. It also cancelled mine leases in 'C' category.

The Supreme Court's judgement on a PIL filed three years ago seeking a ban on illegal mining and also a high level inquiry into the role of politicians, gave green signal to mining in Category A and B.

But the court cancelled all the mining leases for extraction of iron ore in 49 category C mines in Bellary, Tumkur and Chitradurga districts.

The mining along the Andhra-Karnataka border also remains suspended till the border dispute is resolved.

The green bench of the court has accepted the reports submitted by the CEC regarding the mining in Karnataka. As per the CEC reports, the Category B mines will be allowed to restart mining subject to necessary statutory clearances.

In September, the court had allowed 18 mines in Karnataka to resume production of iron ore. In August 2011, it had permitted the state-run NMDC to produce one million tonnes a month.

Meanwhile, shares of metal companies were trading low after the SC judgement. Among the individual stocks, NMDC is the largest loser, down 3% at Rs 124 on BSE. JSW Steel, Steel Authority of India, Jindal Steel and Power, Sterlite Industries and Tata Steel are trading lower by 1- 2%.

OneIndia News

Please Wait while comments are loading...