DNA reported that a Goa headquartered mining firm has apprehended that foreign funding is behind the activism against the state's iron ore mining industry, which is facing the threat of a total ban on exports.

Mr PK Mukherjee MD of Sesa Goa Limited a subsidiary of Vedanta Resources in a statement issued said that "We do not know if there is any foreign funding behind all the activism against Goan mining.”

He said without elaborating further on the issue that "When the country wants to invite huge investment in the mining sector through various provisions in the proposed MMRD Act, such negative painting of all miners with the same brush may do more harm than good in the medium to long term.”

Mr Mukherjee said it is imperative to protect the business interest of all players as Goan miners will lose markets in Japan, Korea and Europe, besides China, established over years, if the ban is perpetuated.

He said there is no denial of the fact there are certain illegalities in the mining sector and exports from the state in particular. He added that "In fact, the industry itself wants the black sheep to be identified and brought to justice.”

Mr Mukherjee said there is an urgent need to strengthen the monitoring apparatus under extant regulations for all activities related to mining, transportation and exports.

He added that "Once the proper system and accountability for monitoring are in place, all offenders will be automatically identified and eradicated adding that a blanket ban on exports is not a solution to the issue.”

Mr Mukherjee further said that "It will lead to a destabilization of Goa's economic apparatus. These social and economic dimensions need to be addressed before arriving at any decision about the future of this industry.”

The iron ore trade in the state is going through a tough phase in the wake of an enquiry into illegal mining by the Justice MB Shah Commission, which is expected to give its report on December 1.

(Sourced from www.dnaindia.com)