| Date: |
08-11-2014 |
| Subject: |
Goa govt renews mine leases, miner says long haul ahead |
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Mumbai: The Goa government has renewed mining leases of several iron ore companies, a top official said, but a miner said would take time for mining to resume because other clearances are still pending while iron ore prices have slumped.
“Renewed,” Prasanna Acharya, director in the directorate of mines and geology in the government of Goa said via a text message. He was replaying to a question whether mining leases had been granted. He also said letters of renewal had been sent to the companies.
Acharya did not say how many leases had been approved. An official notification from the government, giving the full list of companies whose mining leases have been renewed, is yet to be released.
A Press Trust of India (PTI) report on 5 November said V M Salgaocar & Bros Pvt Ltd, Sociedade de Fomento Industrial Pvt Ltd, Chowgule & Co Pvt Ltd, Rajaram Bandekar Pvt Ltd, G N Agarwal Mining Pvt Ltd, Smt Geetabala Manohar Naik Parulekar Mines, Smt Kunda Gharse Mines, Sesa Goa and M/s Letho Ferro, were among those whose leases had been approved.
The Salgaocar company had four mining leases renewed, Fomento two, while others got one lease renewal each, the PTI report added.
A prominent miner in Goa said a revival in the iron ore business will only be seen by September-October next year.
“This is only the renewal order—several other clearances have also to come. Even if those are expedited, there would be an exceptional amount of physical work that will have to be done as the mines have been out of production for two years and even if we expedite that, the commodity price falls and the 30% export duty will make the business financially tough,” said Ambar Timblo, managing director of Fomento Resources.
The Supreme Court in April lifted an 18-month ban on iron ore mining and ordered the state government to put in place a proper mining policy before renewing mining leases. The ban was imposed after a judicial commission highlighted widespread irregularities in iron ore mining.
Source : livemint.com
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