JSW Steel’s Rs 702-Crore Mining Demand Set Aside By Revisionary Authority

Sajjan-Jindal JSW Steel on Friday said the Rs 702-crore demand raised by the deputy director of mines for alleged drop in grade of production and violation of the mining plan in Odisha has been set aside by the revisionary authority. The case relates to alleged violations at the company's iron ore mining operations in Narayanposhi, Jajang, Nuagaon, and Gonua mines, including claims of a drop in grade of production, deviation from the approved mining plan, and use of a higher mesh size during screening.

The company had filed an appeal before the district mining officer/revisionary authority.

In continuation to the above, we would like to update that revisionary authority has set aside the aforesaid demand notices,' JSW Steel said in a filing to the BSE.

The matter has been remanded back to the Odisha government for fresh consideration, with directions to provide the company a proper opportunity to be heard.

The company had filed an appeal before the district mining officer and the revisionary authority.

JSW Steel received the order setting aside the demand on Thursday. JSW Steel is the flagship business of the diversified $24 billion JSW Group.