JSPL begins transportation of iron ore from Sarda mines in Odisha

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New Delhi: Following the Supreme Court order, Jindal Steel & Power on Tuesday said that it has started transportation of Iron Ore stashed at the Thakurani (Block-B) of Sarda mines at Barbil in Odisha’s mineral rich Keonjhar district.

“The Company is pleased to report that, following the recent order by Hon. Supreme Court it has started transportation of its already processed and royalty paid iron ore from its supplier’s mines in distt. Keonjhar, Odisha. This relief to JSPL has come after legal efforts of almost 6 years” JSPL said in a stock market filing.

“This is a great relief to the company in terms of bolstering its working capital and raw material security” said Mr. V R Sharma, MD JSPL.

The Supreme Court on 30th of January had allowed JSPL to lift and transport the extracted iron ore worth Rs 2,000 crore lying on the premises of its long-time supplier Sarda Mines plant in Odisha’s Keonjhar district. The apex court had granted the permission only after Sarda Mines paid Rs 933-crore environmental compensation to the Odisha government.

The Odisha government had challenged a similar order by Odisha High Court in the Supreme Court.

The Iron Ore was laying at the mines area since 2014 after the Supreme Court suspended mining activities in 26 Iron Ore and Manganese mines in Odisha in the absence of Environmental clearance.

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