Goa May Resume Iron Mining

March 18, 2015 15:51
Goa May Resume Iron Mining

Iron ore mining in Goa, could begin in two months after the environment ministry lifted a ban in place since 2012 as part of a crackdown on illegal mining. Goa is pushing for a cut in the 30 per cent export duty for its low-iron-content ore that is not widely consumed by Indian steel companies, said Parag Nagarshekar, deputy director of the state's directorate of mines and geology. China is the biggest buyer of Goa's iron ore. "The duty is a major hindrance," Nagarshekar told. "The state government is following up with the centre."

"We still need to submit a mining plan and get a pollution control certificate," said a Goa-based official of a top iron ore company. "But at least things are moving in the right direction. We are now waiting for the fine print."
The Supreme Court of India last year gave its go-ahead to resume mining in the state, subject to companies getting environmental clearances, but capped total production at 20 million tonnes a year. These curbs have made India a net importer of iron ore after being the third largest exporter a few years ago.

Shares of Sesa Sterlite Ltd, the biggest miner in Goa, rose as much as 5 percent after Environment Minister Prakash Javadekar said that he had lifted an "abeyance" on mines in the state.

By Premji

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Tagged Under :
Iron ore mines  Goa  Environment Ministry