SAIL gets half of Chiria mine in Jharkhand

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SAIL gets half of Chiria mine in Jharkhand

State-run Steel Authority of India (SAIL) has been allocated half of the reserves in the Chiria iron ore mine in Jharkhand, an Executive Director at the company said on Tuesday.

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State-run Steel Authority of India (SAIL) has been allocated half of the reserves in the Chiria iron ore mine in Jharkhand, an Executive Director at the company said on Tuesday.

"The issue about Chiria, 1 billion tonne, has been settled in favor of SAIL," said VK Mehta told reporters on the sidelines of a steel conference organized by Metal Bulletin.

Mehta said he expected the issue about the remaining half of the reserves would also settle in favor of SAIL as well.

Mehta said the company was looking to build a new greenfield project in the same area, with a capacity of 12 million tonnes a year and a budget of around USD 12 billion.

He added that no decision has been taken on this plan and the land has not been bought yet.