Govt wants all captive ore mines hived off

The country's top three integrated steel manufacturers, SAIL, JSW Steel and Tata Steel would soon have to hive off their captive iron ore mines into separate entities. This is to arrive at the true pricing of iron ore and estimate the relative competitiveness of steel mills correctly; the government is working on a proposal whereby all steel companies would have to hive off their captive iron ore mines, if any, into separate companies.

The companies would have to disclose the price at which they sell iron ore to their steel manufacturing units. They would be free to export but if they sell to any other player in the domestic market, it has to be at the same price at which they are supplying to their units.