As only 19 mines have started iron ore production, supply still not sufficient to meet raw material requirement of steel industry

The year 2014 is set to herald better days for the ore-starved steel industry in Karnataka. The Supreme Court appointed Monitoring Committee to oversee E-auction of iron ore in the state is readying to put on auction additional 4-5 million tonnes of iron ore dumps, which contain mostly sub-grade iron ore (with Fe content of 45-50%), for auction as the demand and supply gap still remains wide.