Odisha to renew some iron ore mining licences in about 2 months.

Top iron ore producing state Odisha will renew in about two months licences of 10 of the 26 mines that were shut by the Supreme Court recently, a government official said, allaying fears of steelmakers the shutdown would lead to heavy imports.

The top court had ordered the closure of nearly half of the 56 mines in Odisha due to non-renewal of years-old leases. The closed mines accounted for about half of the state's output of more than 70 million tonnes last fiscal year.

'We're expediting the renewal process and hope to be able to renew the licences of 10 captive mines in about two months,' UC Jena, Odisha's deputy director for mines, told Reuters.

The top court had directed Odisha to decide on the renewal of leases within six months and first consider applications of miners who process their own ore, such as Tata Steel Ltd. and Steel Authority of India Ltd.

ET