The mining policy is taking final shape and would be announced by July 15, state's Mines and Geology Director Prasanna Acharya told PTI today.
The policy was kept open for suggestions and objections earlier last year.
Acharya said the policy will be more pragmatic in its approach towards the mining business and curbing illegalities in it.
Sources in the state Mines Ministry said that the policy has recommended a cap of 45 million metric tones of iron ore export annually to curb the increasing tapping of natural resources from the coastal state.
The rules would be placed before the state Mines Ministry, he added.
Sources stated that as per new rules, the 'fly-by-night' operators indulging in illegal mining would be banned. Also, illegal storage of the ore would be brought under control.