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Mining industry hopeful of revival with SC verdict
Friday, April 19, 2013 2:15
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Mining of iron ore could revive by October this year with the Supreme Court order of Thursday. Mining companies are hoping that the Court could soon move on lifting the ban on iron ore mining in Goa too as a new green bench is expected to be constituted soon.
The order, however, has not convinced the markets that a revival in the sector is due soon. While stock prices of Sesa Goa, one of India’s leading miners of iron ore went up by 0.58 per cent, that of JSW Steel, producer of downstream steel, fell 2.18 per cent on the BSE. While more mines can be reopened, the companies will have to meet the needs of reclamation and rehabilitation before they can do so.
