Supreme Court Cancels All Iron Ore Mining Leases In Goa

Published on 08 Feb 2018 by Tushar

The Supreme Court has quashed all the 88 iron ore mining leases renewed by the Goa government, an order that impacts billionaire Anil Agarwal’s Vedanta Group the most.

A bench headed by Justice Madan Lokur ordered that no mining activity in the state will continue after March 15. The top court ordered that the Goa government will have to grant the leases afresh through auctions.

The Supreme Court judgement comes on a plea filed by non-government organisation Goa Foundation represented by lawyer Prashant Bhushan. The petitioners had alleged that mining undertaken through these leases was illegal.

Goa was once the country’s largest exporter of low-grade iron ore. The Supreme Court order will impact 20 million tonnes a year capacity, more than a quarter of which is operated by the Vedanta Group. The company was allocated additional 3 MTPA in the coastal state. A company spokesperson declined to comment, saying it would react after getting a copy of the Supreme Court verdict.

Source- Bloombergquint.com



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