Tata Steel Current Affairs - 2019

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Odisha Govt slaps a fine of Rs 6,000 crore on Tata Steel for illegal and excess mining

The Odisha government is believed to have slapped a fine of about Rs 6,000 crore on Tata Steel for its alleged involvement in ‘illegal and excess mining’ at its captive mines. Deputy Director of Mines (DDM) of Joda mining circle has slapped the fine.

Tata Steel has captive iron ore mines in Odisha’s Joda and Katamati. in addition, it also has manganese mines and dolomite quarries in the state. All the material is at present used for Tata’s steel-making plant at Jamshedpur, which is about 150 kms away from the mining sites.

Odisha accounts for a third of country’s iron ore – a vital steel making raw material – production. Recently, Odisha has also witnessed quite a few controversies on illegal mining and at present a Centre-appointed Justice M B Shah Commission is probing the cases of illegal mining in Odisha.

Orissa slaps a penalty of Rs 23,904 crore on ‘errant miners’

The Orissa steel and mines department has imposed a penalty of Rs 23,904 crore on 27 miners in the mining circle of the mineral-rich Keonjhar district for extraction of ore beyond the permissible limits.

Companies which have been slapped with penalties include Tata Steel, Aditya Birla-owned Essel Mining and the state-owned Orissa Mining Corporation.

Tata Steel has been asked to pay Rs 6,265 crore. Others who have been charged are Essel Mining (Rs 4,530 crore), RP Sao (Rs 3,872 crore), Sarada Mines (Rs 2,845 crore), KJS Ahluwalia (Rs 2,022 crore), Serajuddin & Co (Rs 1,983 crore).