Goa government hikes iron ore output quota for 30 mining lease holders

Wednesday, 15 February 2017 12:38:42 (GMT+3)   -   Kolkata
SteelOrbis News

With the current fiscal year drawing to a close on March 31, the government of the western Indian state of Goa has allocated additional production quota to 30 mining lease holders from the overall annual production limit of 20 million mt of iron ore, a senior government official said on Wednesday, February 15.
The official said that the 30 mines have been given a varied hike in production limits by transferring unused production quota from mines which have failed to achieve their allocated quotas.
This was done so that the overall production limit of 20 million mt set by India’s Supreme Court will be achieved in the current fiscal year 2016-17 and will enable the government to approach the court for a hike in the production limit, the official said.
If Goa fails to achieve the annual production limit by March 31, it would be ‘irrational’ to approach the Supreme Court seeking a hike in the annual production limit, he added.
The 30 mines which had been granted additional production quota had been approached by the government as they had already achieved their previous production quota and, unless this was hiked, their mining operations would have to be stopped until the commencement of the next fiscal year.

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