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Mining companies and steel industries in Karnataka have welcomed the Supreme Court order on lifting the ban on iron ore mining operations.
Basant Poddar,Senior Vice-President of the Federation of Indian Mineral Industries and Managing Director, Mineral Enterprises Ltd , said: “We welcome the apex court order and we also agree with the Supreme Court observation on Friday last, that Karnataka would have gone back to stone ages.”
“Today’s order offers economic growth and security for the nation to become self-reliant in steel production where the key raw material is iron ore,” he added.
Mines and steel contribute a large percentage to the country’s GDP and offer all-round growth in key sectors like ports, railways, manufacturing and all-round development of the mining regions.
“Good for the industry both for mining and steel industries. It may pave the way for re-starting growth. Not only Karnataka, the impact will be more in other states as well,” said Anjani Agrawal, Partner and Sector Leader - Metals & Mining, Ernst & Young India.
When mines begin operations, employment opportunities will open up. There will be plenty of direct employment in sectors like logistics and other allied services sectors in mining and steel sector, he added.
Vishwapati Trivedi, Secretary, Union Ministry of Mines, at the Federation of Indian Mineral Industries’ meet on mining exploration convention and trade show in Bangalore recently, said the Government has taken note of the urgency and has taken steps to facilitate mining operations in the affected districts in Karnataka.
For this, the Ministry of Mines has instructed the Indian Bureau of Mines to ensure that delays are avoided and a mechanism to monitor has been set in place involving the state and the Indian Bureau of Mines.
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