Steel Authority Says It Will Stop Work At Odisha Iron Ore Mine

Bloomberg reported Steel Authority of India Ltd. says it will stop work at the Odisha iron ore mine after failing to meet conditions for the use of forest land.

As quoted in the market news:

The environment ministry won’t renew its permit after a two-year extension expires on Nov. 10, the people said, asking not to be identified as they aren’t authorized to speak to the media. The 4.5 million metric ton-a-year mine supplies Steel Authority’s Durgapur plant in the eastern state of West Bengal.

Click here to read the full Bloomberg report.