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India's top iron ore producing state is likely to renew the licences of 18 iron ore mines shut since last year, a state official said on Saturday, in a boost for local steel producers.
A panel of senior government officials in Odisha state has recommended the reopening of the mines, which were closed last year due to non-renewal of years-old leases, the state's mining director Deepak Kumar Mohanty told Reuters.
"We expect to complete the renewal process in 10 days," Mohanty said.
The re-opening of the 18 mines will raise iron ore output in Odisha state to 70 million tonnes this fiscal year, about the same level as before the mines were shut, from the 51 tonnes produced in the year ending March 31, the official said.
The panel has also recommended an extension of the lease period for eight separate mines in the state, which belong to Tata Steel, Steel Authority of India and Odisha Mining Corp and are currently operating under a so-called temporary express order, Mohanty said.
The Supreme Court last year ordered the closure of nearly half of the 56 mines operating in Odisha because they were operating without a renewal of years-old leases.
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