"We are in the process of complying with the formalities following which the state government would grant permission to mine," deputy managing director, JSPL, Anand Goel told FE.
He said that the company plans to invest over Rs 50,000 crore on building and expanding steel making capacities of 20 MT in the three states of Orissa, Jharkhand and Chhattisgarh by 2012 which covers investment in iron ore mines.
JSPL is setting up steel plant of 6 MT capacity in Orissa that would be commissioned by 2011. During the second phase the capacity is proposed to be expanded to 12.5 MT. While the company is working on expanding the Chhattisgarh plant capacity from 3 MT to 6 MT.
Considering the future requirement of iron ore after commissioning of its plants, which would need about 1,350 MT of iron ore reserves, the company has applied to the state governments for mining lease for suitable areas having sufficient reserves to meet its requirement, Goel added.
The company already has iron ore mine in Sundergarh, which has reserves to the tune of about 20 MT.