MINING INDUSTRY IN KARNATAKA IS AT STANDSTILL. The future seems bleak and uncertain says Federation of Indian Mineral Industries (FIMI),The cause for this is illegal mining which triggered this state of affairs.

The government of karnataka banned iron ore export on 26.07.2010 to prevent illegal mining.FIMI says that the fear that the iron ore will last only for 15 to 20 years is unfounded and as per the Indian Bureau of Mines , the resource of iron ore in karnataka  may last for 170 years even if extraction continues at the rate of 40 million tonnes per annum.

Addressing the media,Mr.Basant Poddar,Chairman,FIMI- South,said that the Supreme court has stopped iron ore mines in karnataka and the Central Empowered Committee has now finished the survey of all mines and classified them into A,B, & C categories. They hope atleast the mines in A and B categories will be allowed to reopen. They (FIMI) also request the government to start the process of renewal of licences as the process is long and cumbersome.