The western Indian coastal state of Goa is aiming to liquidate all idle iron ore dumps before mining operations resume next month, a government official said on Wednesday, August 12.
The official said that it is imperative to sell and ensure transportation of the iron ore fines dumps across stockyards across the state and at ports to make way for space for new production. However, he acknowledged that ensuring old and new buyers of dumps to transport iron ore fines from the yards within the next one month or so will be a big challenge in view of the slump in international prices and the lack of buyers among traders representing Chinese steel mills, who are the predominant buyers of low grade Goa iron ore fines.
The state government will ensure all buyers vacate stockyards and ports on a priority basis and complete transportation within the next one month, while stocks lying at pitheads of private miners will be left to the discretion of the owners, the official said.
Of the estimated 16 million mt of idle iron ore dumps across Goa, an estimated 6 million mt is believed to be held at publicly-owned stockyards or at ports, particularly on land owned by Mormugoa Port Trust, one of the most important outward shipment points for iron ore from Goa, the official added.