Kerala Iron Ore The state of Kerala has a long history in trading of natural resources including several high grade iron ore deposits. There were until recently 6 Known iron ore deposits of banded magnetite quartzite and hematite capped by laterite which is now identified in many cases to be enriched limonite which had been identified in Northern Kerala. Since that time new work by the Department of Mines and Geology in Kerala has identified an additional 11 Iron Ore sites of interest most of which occur in the locality of Kozhikode district. The six formerly known deposits had a resource base identified from field work in the 1960’s to early 1970’s totalling 84 million tonnes1. Despite being regarded as having some of the best grade iron ore on the entire Indian subcontinent, iron deposits in Kerala have remained largely untested and un-mined due to the perception from the remainder of India that the State was operating a closed door policy to mineral development. This view has been changed recently in India and a flood of new mineral applications have been received by the State Government of Kerala.
..............along with current timing, whether this has any bearing on NSL`s future..
By Commodity Online 14 Mar 2008 at 09:46 AM GMT-04:00
NEW DELHI (CommodityOnline.com) -- The Government has approved the new National Mineral Policy - the highlight of which is the proposal to set up a Mining Administrative Appellate Tribunal.
The Tribunal, an independent dispute resolution mechanism will become fully operational in six months.
The new policy aims to attract foreign direct investment (FDI) to the tune of $250 million annually in the mining sector in the next 5 years. An amendment to make the required changes in the existing Mining Act will be introduced in the ongoing session of Parliament.
NSL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
