The Delhi High Court has directed the Indian Bureau of Mines to take a decision on the representations of Federation of Indian Mineral Industries concerning arbitrarness in fixation of average sale price of iron ore for the State of Karnataka.
In a writ petition filed by Federation of Indian Mineral Industries (FIMI) and mining lessees in the State of Karnataka, the Delhi High Court has passed a landmark judgment dated June 23, 2024, directing the Indian Bureau of Mines (IBM) to address the representations submitted by FIMI regarding the arbitrary fixation of the average sale price of iron ore in the State of Karnataka within two months.
The High Court has instructed IBM to take a decision within two months and to provide FIMI with a personal hearing before reaching a conclusion, Adv. Abhishek Dubey, Advocate, represented FIMI in the matter and other mining lessees.
This order will go a long way in facilitating transparency in the methodology used by IBM for calculating and fixing the average sale price of iron ore.
