Karnataka steel industry reels under mining ban

New Delhi : New Delhi 28 Aug 11 | 02:40 PM:Reeling under raw material shortages and the extension of a mining ban, the multi-billion dollar Karnataka steel industry is in the doldrums due to continuing uncertainty over iron ore supply to their plants.

The jittery industry was not even optimistic over the release of 25 million tonne (MT) of iron ore, lying at various mines in the southern state, as the modalities are yet to be worked out.

"Most of the iron ore is lying at the privately owned mines. Suppose the mine owner refuses to share his stock, then what will you do? 25.88 million tonne availability, which is being talked about, is an ideal scenario only," said a senior official of one of the affected companies in the region.