FKCCI welcomes SC order to auction ore

BANGALORE: The Federation of Karnataka Chamber of Commerce and Industry (FKCCI) on Saturday welcomed the Supreme Court’s decision to permit auctioning of 1.5 million tonnes of iron ore stock from Bellary, Chitradurga and Tumkur districts for the steel industry through e-auction for domestic use.FKCCI president J R Bangera said the decision would help domestic steel producers which are on the verge of partial or full closure with consequent labour retrenchment.“It is necessary that the question of mining and sale of iron ore be settled through a well-defined long term policy.”