Current Affairs

Sesa Goa appeals to Union Finance Minister to lift Goa Mining Ban

Vedanta Group firm Sesa Goa has sought Finance Minister P Chidambaram’s intervention and requested him to anchor the coordination between various government departments, so that the mining ban issue can be resolved in the Supreme Court.

In a letter to the Finance Minister, Sesa Goa’s Managing Director P K Mukherjee said that Goa’s economy has been suffering since the past 10 months due to the mining ban, which has caused severe economic and social distress to the people of Goa.

Noting that one-third of Goa’s population is dependent on mining, he said that the state government and the industry have already initiated several steps to strengthen the compliance mechanism for ensuring legal mining in the state.

“We would also request for your support in all spheres of Central Government, so that the matter gets quickly resolved in Supreme Court and thereafter all ministries like Mines Ministry, MoEF (Ministry of Environment and Forests) and the state government can take necessary action to permit resumption of mining as soon as possible,” Mukherjee said in the letter.

Pointing out that Goan mining industry has lost its traditional markets like China, Japan and South Korea to competitors from other parts of the world due to the ban, he said that resumption of mining in Goa is a “win-win situation for all concerned” and would help restore investor confidence.

He further said that over 11 million tons of iron ore are lying stock-piled and pose severe environmental threat. Besides, the country also stands to lose the opportunity of earning USD 1 billion due to stock piling of the mined ore.

Sesa Goa, before the ban in Goa, used to be the largest iron ore mining firm in private sector, with a production of about 14 million tonnes (MT).

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