Thursday, February 10, 2011

Steel Authority India Wins Approval for 1 Billion Ton Ore Mine

Steel Authority of India Ltd., the
nation’s second-biggest producer, won environment approval to
mine the remaining half of the Chiria deposits, estimated to
hold more than 1 billion tons of iron ore. The shares surged.
The environment ministry cleared the second phase of the
deposits in the eastern state of Jharkhand, Steel Authority
Chairman C. S. Verma said today in a phone interview. Steel
Authority, which has rights to half of

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