BS reported that the mining crisis in Goa, the country’s largest exporter and second largest producer of iron ore, is set to worsen.

With the probe of the Centre appointed Shah commission into alleged irregularities entering its last lap, Goan miners have started bracing themselves for a possible Karnataka like blanket ban on mining and exports.

Mr PK Mukherjee MD of Sesa Goa told Business Standard that “A ban on exports would act as a death knell for us. But we cannot do anything but wait for the final Shah commission report.”

Mr Ambar Timblo MD of Fomento Resources said that “We will shut operations in the event of a ban. In any case, there is no debt on our books. According to our analysis, our earnings this financial year will drop by at least 35% from those last year.”

Mr Shivanand Salgaonkar MD of VM Salgaonkar & Bro Pvt Ltd said that "Our business will become zero and the whole company will come to a standstill if a ban is imposed. It is a crisis for sure.”

The Shah commission, appointed in November last year, will give its report to the Centre.

(Sourced from BS)