SC allows 9 more Karnataka iron ore mines to resume

NEW DELHI Thu Apr 18, 2013 11:06am IST

A view of the Indian Supreme Court building is seen in New Delhi December 7, 2010. REUTERS/B Mathur/Files

A view of the Indian Supreme Court building is seen in New Delhi December 7, 2010.

Credit: Reuters/B Mathur/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - The Supreme Court has allowed nine more iron ore mines to resume production in Karnataka, a small fraction of the total, but exports from the country's second-biggest supplier of the steel-making raw material remain on hold for now.

The court also cancelled mining leases for all illegal mines in the state, Judge Aftab Alam said on Thursday.

The ruling is the latest step back from a total ban on mining in the state that was put in force in 2011, because of environmental concerns.

In September, the Supreme Court allowed 18 mines in Karnataka to resume operations, while state-run miner NMDC was cleared to produce one million tonnes a month in August 2011.

India used to produce about 200 million tonnes a year of iron ore and exported about half of that, mostly to top buyer China. But a clampdown on illegal mining, and exports from Karnataka, have slashed both output and shipments.

(Reporting by Krishna Das; Writing by Siddesh Mayenkar; Editing by Jo Winterbottom)

FILED UNDER:

"India's Daughter"

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Sensex Rises

Sensex Rises

Sensex edges up; consumer and healthcare stocks rise  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

Indian Ocean Diplomacy

Indian Ocean Diplomacy

PM Modi to ramp up help for Indian Ocean nations to counter China influence  Full Article 

ECB Bond-Buying

ECB Bond-Buying

ECB raises growth forecasts, to start printing money next week  Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

Pharma Sector

Pharma Sector

Panel recommends waiving late-stage trials for some drugs  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage