Mining cos asked to pay 50K cr for alleged illegal and excess mining
The Odisha government has asked leading steel and iron ore companies to pay over Rs 50,000 crore for alleged illegal and excess mining in a move that could lead to a lengthy standoff between the private sector, the Centre and the resource-rich state that produces a third of the country's iron ore.
ET has confirmed independently that 40 notices from the mining department of the state's Joda district have been issued seeking recovery of as much as 48,450 crore from both captive and non-captive mining leases in the district. The companies include Tata Steel, Mining, Sarada Mines (which has a long-term arrangement with Jindal Steel & Power), Mideast (Mesco Steel) as well as firms belonging to KJS Ahluwalia, MC Rungta and the state's own Orissa Mining Corporation.
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