Goa State Pollution Control Board (GSPCB) member secretary Srinet Kothwale said the plot admeasuring 5,000 square metres was being used to stack iron ore without permission from authorities.
The joint raid was conducted on the plot located at Kalem village last week by GSPCB and State Mines and Geology department, following a complaint by locals.
Initial investigations have revealed that the company identified as Milestone Minerals Private Limited was using the plot to stack and screen the illegally extracted ore.
The company had not taken any permission from GSPCB and had no licence from any authority to trade the ore.
The investigations into the illegal mining activity in the state had revealed that there are several plots existing in the state, which stock illegally extracted ore.
The fertile farm lands in the iron ore rich talukas of Goa are given to stock the ore.