India: Iron ore dispatches from OMC mines to resume as strike called off

Iron ore dispatches from India's second largest merchant miner, OMC's mines in Joda are set to resume after a gap of around two weeks. In the latest update received by BigMint, dispatches are likely to resume from today as the strike has been temporarily called off for 15 days.

The ongoing issue had prompted the All Odisha Steel Federation (AOSF) to write to the Chief Minister of Odisha, Mohan Charan Majhi, seeking urgent intervention on the matter.

Notably, several industries, which rely heavily on these iron ore supplies for their operations, have long-term agreements (LTA) with OMC.

The potential closure of these units could lead to massive job losses, affecting not only the employees but also the livelihoods of lakhs of tribal people in the region.

The industries in question are pivotal to the local economy, offering employment opportunities and contributing to the economic well-being of the tribal population.

Notably, OMC, a state-owned enterprise and the second-largest merchant iron ore miner in India with an annual production of 33 million tonnes (mnt), halted dispatches on 6 July 2024.