Expecting a rise in iron ore exports, which would help to lower the current account deficit, the Union government hopes to get relief on iron ore mining in Goa by November.
Union Minister for Mines Dinsha Patel hoped that the legal and environmental issues in Goa’s iron ore mining will be resolved by October-end or November first week.
Iron ore mining in Karnataka and Goa was banned by the Supreme Court, but subsequently, the court allowed mining in Karnataka with some conditions. However, the ban continues in Goa and now the Centre is planning to move to the apex court for relief.
The Indian Bureau of Mines says the total availability of iron ore resources as on April 1, 2012 is 28.526 billion tonne of which only 8.115 billion tonne of reserves are capable of economic exploitation. The total iron ore production in 2012-13 was 140.1 million tonne compared with 167.3 million tonne a year ago.
Normally production of one tonne of steel requires 1.6 tonne of iron ore. Patel also said that although the production of iron ore in the country had come down, the demand of the domestic steel industry was still being met.
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