Centre nod for ArcelorMittal mining lease

ArcelorMittal’s greenfield project in Jharkhand has got a boost with the Centre clearing its application seeking a lease of Meghadburu-Karampada iron ore mines in West Singhbhum district. The mine is spread over 500 acres and is estimated to have over 600 million tonnes of iron ore reserve. The company has to get clearances from the state and Union Environment and Forest Department before it gets licence for prospecting the mine. “Only after the company secures the go-ahead from the Forest Departments, will we be able to grant mining lease to it,” said Director (Mines) Bipin Behari Singh. In 2004, L N Mittal inked an MoU with the state Government, envisaging an investment of $11.5 billion to set up a 12-million capacity greenfield steel plant, besides a township, a 2500-MW thermal power plant and a technical institute.