MECL to Take Stock of Iron Ore in Goa
Iron Ore Sunday Guardia

MECL to Take Stock of Iron Ore in Goa

The Goa government has signed a Memorandum of Understanding with the public sector undertaking Mineral Exploration Corporation Ltd

The Goa government has signed a Memorandum of Understanding with the public sector undertaking Mineral Exploration Corporation Ltd to build an inventory of Goa’s minerals, mainly iron ore. The MoU will help the government assess its mineral resources and establish its mineral inventory. The MoU is seen as a step towards the government restarting mining through its own state-run corporation after the Supreme Court ruled that if mining is to restart, fresh leases will have to be allotted, which now involves an auction.

In March this year, while presenting the state budget, Sawant announced that the state government would set up its own mining corporation in a bid to break the logjam that has resulted in shuttering of state’s mining industry since 2018. The inventory would also help the Goa government explore the possibility of opening fresh leases and having them auctioned in a bid to bypass the legacy leases that are stuck in a legal quagmire.

Related Stories

No stories found.
SteelGuru Business News
www.steelguru.com