Process to auction iron ore mining leases to start in 2-3 months: Goa CM

Process to auction iron ore mining leases to start in 2-3 months: Goa CM

The process of auctioning of iron ore mining leases will start in the next two to three months, Goa Chief Minister Pramod Sawant said on Tuesday.

He said the state department of mining and geology had been directed to fast-track formalities so that the process can start as quickly as possible.

Mining came to a standstill in Goa in early 2018 after the Supreme Court cancelled 88 leases and prohibited the extraction of fresh ore.

Earlier, the state government had formed Mineral Exploration Corporation Limited to explore the possibility of auctioning 90 mining leases.

“The State Bank of India has been appointed as a consultant to oversee the entire process of auctioning of mining leases in Goa. We will start the process of auctioning in next 2-3 months, Sawant said after holding a review meeting on the issue.

Talking about illegalities in the mining sector, which was pointed out by a panel of chartered accountants, Sawant said notices for recovery of Rs 300 crore were issued to mining firms.

“A total of Rs 120 crore has been recovered, while notices of Rs 180 crore have been challenged by mining firms in the court,” the CM informed.

He added that a Special Investigation Team of the state police’s Crime Branch, which was formed to investigate the illegal mining scam, has been asked to submit its report as soon as possible.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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