Goa Miners in deep financial trouble |
Federation of Indian Chambers of Commerce and Industries has sought the government`s intervention for early resumption of mining in Goa, which has been shut down due to Supreme Court of India`s quashing of mining leases. Claiming that the 490 million dollar sector that contributes around 10-12 per cent to the state GDP was under severe threat, the industry body said that the sudden discontinuance of mining operations in Goa is creating a huge loss to the mineral sector as a whole. They requested government`s intervention for early resumption of mining operations as the situation at ground is a grave concern for the whole sector. A sizeable population of Goa, is directly or indirectly dependent on mining activities, adding that the mining industry in the coastal state which employs around 150 thousand to 200 thousand people, who are directly or indirectly dependent on the sector for livelihood. This situation can also lead to severe loss of investor confidence in the country by increasing the non-performing Assets pertaining to the Mining sector. The Apex Court`s judgement dated February 7, 2018, quashed the second renewal of iron ore mining leases given to 88 companies in Goa in 2015.
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