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So much for that. From Reuters:
India’s top iron ore producing state Odisha expects output in 2014/15 to hold around last year’s level as it fast-tracks licence renewals for mines shut down by a court order, a top official said on Monday.
…”The brief halt in operations will not have much of an impact on our yearly output,” said Mohanty. “We’ll be able to make up for it.”
…Of the mines that have been allowed to reopen, four belong to Tata Steel, three to SAIL and one to OMC. The mines produced about 20 million tonnes last fiscal year. Mohanty said Odisha was expediting renewals for the rest of the mines.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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