The government of the eastern Indian state of Odisha last week approved the renewal of seven iron ore mining leases for a period of 50 years, a government official said on Tuesday, January 24.
The official said that the new mining leases have been awarded under the new mining legislation of the federal government.
The mining leases for these seven iron ore mines had expired as they did not have the required clearances under the new legislation - the Mines Minerals Development and Regulation Act - which came into force in 2015, but these clearances have since been regularized and new leases have been awarded to the miners.
According to the official, with the new mining leases being granted, total iron ore production in Odisha is expected to increase substantially over the next two years.
According to Odisha government estimates, total iron ore production during the current fiscal year ending March 31, 2017 will be over 100 million mt, while production is expected to exceed the 120 million mt mark in the next fiscal year.