Iron ore production projected to fall 15% after two years of growth

Iron ore production in the country is projected to fall 15 per cent in FY18 after rising steadily for two successive years since 2014-15 as closure of seven working mines in Odisha and lesser production in Goa will weigh on total output.

The shunting out of operations of seven working iron ore leases in Odisha on January1 this year will impact production as their combined annual capacity is 20 million tonnes per annum. The mines of Serajuddin & Company, Mesco Steel and others were closed as the leaseholders failed to pay the Supreme Court mandated compensation for overproduction by December 31