Jindal Steel’s $2 billion South African iron-ore mine faces environmental hurdle

Jindal Steel & Power Ltd. has had an environmental application to develop an iron-ore mine in South Africa at a cost of as much as $2 billion rejected.

The company will appeal the decision, Parshant Kumar Goyal, the general manager for mines and business development at Jindal Africa, said when called by Bloomberg.

The application was refused because of “extensive gaps in the environmental impact assessment) in the context of constitutional rights,” All Rise, an environmental legal organization, said in a statement on Monday.

Here’s your comprehensive 3-minute summary of all the things Finance Minister Nirmala Sitharaman said in her Budget speech: Click to download!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here.
Download The Mint News App to get Daily Market Updates & Live Business News.


Published: 12 Feb 2024, 05:53 PM IST

Source link