State

Long-term Iron Ore Linkage Policy modified

Bhubaneswar, April 29: Odisha government has changed the provisions of the long term iron ore linkage policy to provide the raw material to the local industries through Odisha Mining Corporation (OMC).

The move came after reviewing the situation and shortage of iron ore faced by the state-based small and large mineral industries.

As per the new policy, the OMC will provide upto 70 percent iron ore to the local industries in the state. Earlier, it was 50%. The OMC will fix the exact quantity to be distributed taking into account its production and demand from the local industries.

The policy was modified at a cabinet meeting yesterday chaired by chief minister Naveen Patnaik. The cabinet also approved the public sector undertakings, small scale plants that did not have eligibility to sign the MoUs as their production was low. With the decision, the small users can now obtain minerals under the long-term iron ore linkage policy.

The cabinet also approved a proposal to allow the mineral quantities not disposed through long-term linkage to be offered for sale through national e-auction.

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