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Steel Ministry push for power to grant iron ore lease

Frustrated by extensive delay for prestigious projects like Arcelor Mittal and Posco, Ministry of Steel has written to Cabinet Secretary for powers to grant licenses and approvals for iron ore leases. Many steel projects are held due to long term commitment of raw materials like iron ore. It opines that it is in the best position to assess needs and can take strategic decisions. It asked for amendment in law in case of three minerals viz. Iron, manganese and chrome ores.

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