The Supreme Court on Thursday favoured initiation of immediate steps for opening of iron and ore mines in Karnataka saying their closure has resulted in the slowdown of the steel industry.A division bench of the apex court was hearing the application filed by Karnataka Iron and Steel Manufacturing Association seeking direction for taking immediate steps for opening of 16 iron and ore mines in which the apex court appointed expert panel, central panel, had found minimum irregularities.The apex court said it will pass order on the issue on August 17 after going through the action taken report submitted by the panel in which it has dealt with the issue of Reclamation and Rehabilitation plan.