KOLKATA (miningweekly.com) – Buoyed by a revival in prices and transaction volumes in international iron-ore trade, the eastern Indian province of Odisha is poised to achieve a decade-high in iron-ore output.

According to a senior provincial government official, iron-ore production is expected to touch the 120-million-ton mark at the end of the current financial year on March 31. Production growth is expected to be maintained at about 10% to 20% in the next financial year, with government having already announced a series of measures to bring new iron-ore mines back into production.

Earlier this month, Odisha approved the renewal of seven iron-ore mining leases for a period of 50 years under new federal mining legislation. The leases expired as they did not have the required clearances under the Mines and Minerals (Development and Regulation) Act, which was promulgated in 2015. The clearances have since been regularised and fresh leases have been awarded.

A government official said on Tuesday the granting of fresh mining leases would result in substantially higher iron-ore production in Odisha over the next two years.

The province would also put two more iron-ore blocks up for auction in the next month, following the successful conclusion of three iron-ore block auctions last year. The government has completed preliminary work to auction the Netrabandhapahad and Kalmang mines, which include a differential global positioning system of survey, as mandated by the central Mines Ministry.

However, the official could not provide details of the iron-ore reserves and other geological details of these blocks, as geological details and mappings would be made available only after a notification of the auction was issued.

Mining Weekly Online has also learnt that the Odisha government plans to put two more iron-ore blocks up for auction before the end of March.