SESA MINING OPERATIONS TO RESUME IN KARNATAKA
Sesa Sterlite, a mining company controlled by billionaire Anil Agarwal, may restart some of its iron ore mining operations in India as early as next month after a two year shutdown. Excavation had been banned in the southern state of Karnataka in 2011 due to environmental degradation, but, according to two officials who asked not to be named, Sesa has now met the requirements for a permit to mine in the state. During the ban, Sesa was allowed to mine 2.29 million metric tons a year in Karnataka—about 38 percent of its capacity before the court halted mining in the state—and now that the ban has been lifted Sesa hopes to return to its original capacity by March. In the neighboring state of Goa—India’s number one exporter of iron ore—a ban on outbound shipments of the commodity remains in place. For the full story, see http://www.bloomberg.com/news/2013-10-24/billionaire-said-close-to-restarting-sesa-mines-corporate-india.html. For additional background, see http://www.bloomberg.com/news/2013-08-28/iron-ore-to-steelmakers-increases-as-indian-state-restarts-mines.html.