Tata Steel, GMR in Odisha list for excess mining, face Rs 27,000 cr fine

“After iron and manganese ore mines, the non-ferrous mine leaseholders in Odisha  might be next in line to cough up penalty for extracting ore beyond the approved limits Odisha government has prepared the draft notices for extracting the cost of excess production from coal and other non-ferrous mines like chromite, limestone, and dolomite. The notional value of over-production by coal mines has been assessed at Rs 22,000 crore. For chromite and other non-ferrous leases, the compensation figure is around Rs 5,000 crore, which means an additional penalty of Rs 27,000 crore. The total compensation to be forked out by the mining companies could well go beyond Rs 50,000 crore, said an industry source,” writes Jayjit Dash

Read more here



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s