facebook
twitter
rss
account
search
search
 

Indian mining company fined $1 billion

Nov. 6, 2012 at 11:35 AM   |   Comments

NEW DELHI, Nov. 6 (UPI) -- Tata Steel in India said it would appeal a fine of $1 billion levied on it by the state of Orissa for excessive mining.

The Wall Street Journal reported Tuesday that the steel giant, which operates three iron ore mines in the Orissa state in eastern India, contends that it operates "with strict conformity with the existing laws," the company said in a statement.

Deepak Kumar Mohanty, the state's director of mines also said there were fines levied on other mining companies, as well.

"Yes, we have sent notices to mining companies. Representatives of the companies are free to appeal to the state government if they want to," he said.

He did not identify which other companies had been fined, the Journal reported.

The $1 billion fine is one of the largest ever imposed on a mining company in the country, the Journal reported.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
BAE Systems wins naval support contract BAE Systems wins naval support contract
2
U.S. funds advanced solar energy research U.S. funds advanced solar energy research
3
Kurds pledge to protect oil and gas assets Kurds pledge to protect oil and gas assets
4
Verizon backing off plan to slow unlimited data Verizon backing off plan to slow unlimited data
5
Huntington Ingalls Industries cuts steel for new destroyer Huntington Ingalls Industries cuts steel for new destroyer
Trending News
x
Feedback