Odisha records sharp fall in mining revenue

Bhubaneswar: Odisha has registered a sharp fall in mining revenue in 2016-17, which is lowest in last five years.

Steel and Mines Minister Prafulla Mallick said the state has registered a sharp fall in mining revenue in 2016-17 against the targeted revenue.

The drop is of around Rs 2,000 crore, and is due to fall in global demand for iron ore, he added.

The drop in revenue has been attributed to the sharp fall in global demand for iron ore this year. – Prafulla Mallick

The total revenue from mining stands at Rs 4,500 crore against the target of Rs 6,500 crore.

The minister also confirmed that e-auction of Netrabanda, Kalamunda iron ore mine blocks and Garamura limestone block would be completed by May 2017.