The lapsing of validity of 16 merchant mines in Odisha by March 31, 2020 is set to create a deficit of 66 million tonne (mt) of iron ore. Steel mills and other end use industries operating without captive ore sources are likely to be hit hard as no roadmap has been prepared for auctioning of these leases.
As per the provisions of the amended Mines and Minerals (Development & Regulation) Act, the validity of existing non-merchant mines have been extended till March 31,2020 and those of captive leases till 2030.
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