Billionaire Said Close to Restarting Sesa Mines: Corporate India

Sesa Sterlite Ltd., controlled by billionaire Anil Agarwal, is close to restarting some of its iron ore mines in India as early as next month after a two-year shutdown shrank its revenue to the least since 2008.

Sesa has met requirements for a permit to extract the raw material in Karnataka state, which accounted for about a fifth its output, two officials familiar with the matter said, asking not to be identified before an announcement. The nation’s top court, which banned excavation in the southern state and neighboring Goa amid environmental degradation, said in April Sesa needs the consent of federal and state governments to commence operations.