UTC+8 ( BJT)

Odisha allows old lessees to liquidate some unsold stocks


In a recent order, Principal Secretary, Steel and Mines, Odisha has suggested ex-miners be allowed additional time to liquidate the balance of mineral ores lying in the leasehold area, extracted prior to the expiry of the lease on 31st Mar 2020.
What is the case: Odisha auctioned 19 iron ore mines before 31 March 2020 just as Covid19 was beginning to spread. Under the Mineral Concession Rules 2016 the former lessee was given 7 months (from Mar’20) to liquidate his inventories mined before 31st Mar’20. The stocks with these miners as on 31st Mar’20


To read the full article take a free 7-day trial to Mysteel Global

+65 6653 8227