Iron ore production in Odisha declines 21% in January-November

Thursday, 10 December 2020 12:34:33 (GMT+3)   |   Kolkata
       

Iron ore production in Odisha, the Indian iron ore producing state, fell to 98.2 million mt during January-November, down from 123.8 million mt during the corresponding period of the previous year, declining by 21 percent, according to a statement from India’s ministry of mines on Thursday, December 10.

According to the ministry, a fresh auction of 24 mining leases which expired on March 31 this year has been completed, but only five iron ore mines have been able to restart operations under the new mining lease holders and have commenced dispatches, leading to a fall in the total production of iron ore in Odisha.

Indian steel minister Dharmendra Pradhan, minister of mines Prahlad Joshi and Odisha chief minister Navin Patnaik held a meeting on Wednesday, December 9, to assess the fall in iron ore production and seek measures required for the early resumption of operations for mines which have already been auctioned to new operators.

Emphasizing the need for an early resolution to the causes of declining production, Mr. Pradhan said, “It is necessary to ensure seamless raw material availability to end-users and this will result in reducing prices of iron ore, which have gone up substantially in the last one month due to adverse market sentiments emanating primarily from reduced supplies from Odisha and recently auctioned mines.”


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