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Posted on Dec 19, 07:16AM | UNI
Karnataka Iron and Steel Manufacturers' Association (KISMA) today urged the state to open all the 'A' category mines permitted by the Supreme Court as the Steel industry is facing threat closure due to shortage of iron ore.
A memorandum to this effect was submitted to the Chief Secretary S V Ranganath by KISMA President Dr Vinod Nowal.
Talking to reporter here, JSW Joint Director Sheshagiri Rao said that the capacity of Steel Plants in the state which was contributing 24 per cent of the country's steel production has come down by 50 per cent since iron ore mining ban imposed and even after the Apex Court permitted 'A' category mines the supply through NMDC through e-auction is not sufficient since only one mine was opened up.
"Even the quality of the iron ore mined by NMDC is not upto the mark and there is no stock at present all these are forcing Steel industry, which is employing directly and indirectly about three lakh people, to suffer. State exchequer was getting Rs 9000 crores by way of various tax and royalty but now it has been lost," he added.