https://www.engineeringnews.co.za

Vedanta assessing impact of Goa suspension

8th February 2018

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Diversified mining company Vedanta Resources confirmed on Thursday that its mines would be affected by the Indian Supreme Court ruling that cancelled 88 mining leases in the iron-ore producing province of Goa.

Mining operations would stop on March 16, Vedanta said, adding that operations would only be allowed to resume when fresh leases and fresh environmental clearances have been granted.

“The company is assessing the financial and operational impact of the said judgment,” the London-headquartered company said in a statement.

The Supreme Court ruled that Goa had acted hastily by renewing the mining leases in 2015, just before an amended Mines and Minerals (Development and Regulation) Act made auction of leases mandatory for mining notified minerals, like iron-ore.

Court action against illegal mining in 2012 shut the iron-ore mining industry in the state for more than two years. Before the ban, the state produced 50-million tonnes a year. The Supreme Court later placed a cap on production in the state of 20-million tonnes a year.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:4.971 5.211s - 156pq - 2rq
Subscribe Now