Odisha assures no iron ore supply shock after mines' validity ends in March

The state boasts of the country's largest iron ore output. In the last fiscal year, Odisha churned out 114 mt, contributing more than a half to the nationwide production of 207 mt

The Odisha government has ruled out supply shock of iron ore after the validity of merchant mines ceases by March 31 2020, putting to rest fears of a crunch in the key steel making ingredient.

“It would not be a supply shock after March 2020. We have allowed both end user industries and merchant miners to build up stocks. Twenty four merchant mines are lapsing by 2020 and we have started the auctions process of these mines. Till now, we have completed auctions of two chromite mines," said R K Sharma, additional chief secretary (steel & mines), Odisha government.

Sharma