Business

MPT To Benefit From SC Order On Mining in K’taka

The Supreme Court order of Tuesday directing the Karnataka government to lift the ban on export of ore is likely to prove a bonanza to the Mormugao Port Trust in Goa as its business is expected to soar.
The Supreme Court pronounced the order on Tuesday while disposing a petition filed by mine owners and directed the Karnataka government to set in place within 15 days the required infrastructure to check illegal mining in that state.

However, according to Goa Mineral Ore Exporters Association (GMOEA) Executive Director S Sridhar, MPT’s fortunes will depend on whether Karnataka has ready stock for exports or whether it will commence mining operations in 15 days.
According to official figures, around 7 to 8 million metric tones of ore is exported from Karnataka and despite the ban MPT managed to touch the same figure as the shortfall was compensated by an increase in ore from Goa.
Following complaints of illegal mining in the State, Karnataka government had banned export of ore in July 2010.

Earlier, in this matter, the apex court had on February 11 directed the Government to allow export of the iron ore that had piled up in major ports of the state following the imposition of a ban on overseas shipments.

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