TATA Steel, SAIL and OMC gets mining lease renewal orders
Supreme Court has passed an order on May 16, 2014 banning operations in 26 mines working on second deemed lease renewal. The apex court has ordered the state government to issue proper mine lease renewal in six months. In response to the ban imposed, the state government has fast tracked the process of lease renewal to minimise disruption of mining activities and loss of royalty to the state exchequer. Recently the mining leases of SAIL and Tata Steel renewed their mining leases for the next 20 years SAIL mines at Barsua, Kalta and Bolani would benefit. Tata Steel's iron ore mines at Katamati, Bamebadi, Joda East and Joda West, and a manganese mine leases were renewed. In addition to SAIL and Tata Steel, a mine belonging to Odisha Mining Corporation also got the renewal orders.