45 Iron Ore Mines in India Requested to Seek Permission

Bloomberg reported India’s top court has asked 45 iron ore mines to seek permission before they resume operations after a ban is lifted.

As quoted in the market news:

The ministry of environment and forests must endorse the applications of the mines after checking their licenses and report to the court in two weeks, a panel of three judges headed by Chief Justice S.H. Kapadia said in an order in the Supreme Court in New Delhi today.

Mining in Karnataka’s Bellary region was banned in July and extended to two other iron ore-rich regions in the state as the court probed violations of environmental rules. The restrictions led to production cuts by steel companies, which use iron ore as a raw material.

Click here to read the full Bloomberg report.