Vedanta to restart iron ore mining operations in Goa

New Delhi, Aug 10: Anil Agarwal-led mining firm Vedanta today said it has received necessary government approvals and will resume operations from today at its biggest iron ore mine at Codli in Sanguem taluka in Goa.

"The company has received relevant consent, licence and approvals to commence iron ore mining operations in Goa for some of its leases. The company is likely to recommence operations from August 10, 2015, at its biggest mine at Codli in Sanguem taluka in Goa," Vedanta Ltd said in a BSE filing.

Further, it said it "has been granted approval for a total extraction of 5.5 million metric tonnes, of which Codli has 3.1 million metric tonnes. Till date, five plans and schemes for company's mines have been cleared by the Indian Bureau of Mines and we are awaiting clearance for further 15 plans".

"Over the balance monsoon period, we anticipate receiving these approvals and expect a full scale resumption, post monsoon," Vedanta added.

However, expressing caution over iron ore prices, Vedanta said: "Even as India in general and miners from Goa in particular look to regain lost markets, iron ore markets/prices are weak and the international trade environment remains challenging. We continue to work with the central and state governments to improve competitiveness of Indian exports."

The Goa government had temporarily banned iron ore mining in September 2012, pending verification of documents in the wake of Justice M B Shah Commission's report. In the same month, the Environment Ministry had put on hold the green clearance granted to the mining leases in Goa.

In October 2012, the Supreme Court imposed a blanket ban on mining while hearing a petition, which was lifted in April last year, but with riders.

PTI