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Tata Steel gets lease approval for Noamundi mines #WTFnews

Tata Steel gets

Tata Steel gets lease approval for Noamundi mines

BUSINESS   

Ranchi : The state government in an important resolution today approved the lease renewal of Noamundi iron ore mines to Tata Steel.

Raghubar Das after taking oath as the chief Minister took the lease matter of Noamundi mines with great concern as directly or indirectly seventy five thousand families were affected due to the closer of mines.

He ordered immediate action in the matter and called for the chief secretary finance and mining secretaries along with the government solicitor and Tata Steel officials to finalise the matter in forty eight hours.

After two days of meetings and discussions the state government gave approval for the renewal of Noamundi iron ore mines in favour of Tata Steel.

Tata Steel will deposit rupees 302 crores in a day or two with the state government. According to the agreement the steel company will deposit 3600 crores in instalments with the state on account of iron ore mining.

Political advisor to the chief Minister, Ajay Kumar said that the lease had expired in 2011 and mining was continuing in anticipation of further renewal of lease.

But in the meantime due to an order of3rd September 2014 by the Supreme Court, mining had to be withdrawn.

Due to the closer of mines, thousands of families were affected and because of sincere intervention of Chief Minister Raghubar Das the officials came out with a solution.

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