SC asks Centre to take call on mining lease to Posco

NEW DELHI: The Supreme Court today asked the Central government to take a final call on the fate of the iron ore mining lease allotted to South Korean giant Posco in Odisha's Sundergarh district.

The apex court said that all objections would have to be heard before the Centre takes a call. This includes Odisha's local firm Geomin which had challenged the state decision to allot it to Posco.

The high court had earlier cancelled it on july 14, 2010, prompting both Posco and Geomin to appeal in the top court. Supreme court today set aside high court's order and asked the Centre to check the allocation.

Posco's 12 mt steel plant worth Rs 51000 cr completely depends on sourcing from the Kandadhar mines. The Centre could accept or reject the state recommendations in Posco's favour made earlier on Jan 9, 2009.