Miners warn of 80-mt iron ore deficit on lease extension delay

Licences of 250 mines are set to lapse in three years from now

The iron ore mining sector faces a challenge a little down the line, as licences of 250 mines are to lapse in three years from now. Only 50 of these are in operation, producing 80 million tonnes (mt) annually, a little over 80 per cent of these in Odisha. This 80 mt supply could be in danger, as no formalities have begun to extend the lease or validity. With steel companies in expansion mode, supply concerns could emerge. The deficit in domestic ore supply after March 2020 is seen at around 80 mt and this could put the brake on