CEC recommends mining to restart in Karnataka - Angel Broking

Central Empowered Committee (CEC) has recommended Supreme Court to permit resumption of production of iron ore from category A mines. CEC has also recommended that permission be given for mining operations for category B mines after some specified R&R conditions are met by the miners.

The speedier commencement of production from mines in Karnataka is likely to be positive for JSW Steel and Sesa Goa. However, we remain skeptical on the speedier commencement of mining in Karnataka as we believe R&R compliance by miners is likely to take some more time for category B mines.

Until further update, we maintain our Neutral rating on JSW Steel.

Source : Equity Bulls

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