ArcelorMittal granted ore mining rights for its Jharkhand steel plant

ArcelorMittal, the world's largest steel maker, has received iron ore mining lease  for its 12-million tonne integrated steel plant, to be based in Jharkhand.

The government has granted ArcelorMittal mining rights in respect of the Karampada iron ore deposit in West Singhbhum district of Jharkhand, with estimated reserves of 65 million tonnes of iron ore.

The Karampada mine will help ArcelorMittal meet part of the iron ore needs of its proposed $10 billion greenfield steel project being set up in Jharkhand.     

''We are very pleased that the Government of India and Jharkhand have allocated the mining lease in Karampada to the company and reaffirm our commitment to fast track the construction of our new steel plant in the region," ArcelorMittal CFO and member of the group's management board Aditya Mittal said.     

The Karampada iron ore deposit is located in West Singhbhum district of Jharkhand with an estimated reserve of 65 million tonnes.     

The company's iron ore requirement for the first 30 years of operation has been pegged at 600 MT, a statement issued by the company said.