Vedanta has announced resumption of operations at its Codli mine in Goa, three years after mining came to a standstill following a ban imposed on mining by the Supreme Court.
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The company is likely to recommence operations from August 10, 2015 at its biggest mine at Codli in Sanguem taluka in Goa.
The Goa government had temporarily banned iron ore mining in September 2012, pending verification of documents in the wake of Justice M B Shah Commission’s report. All employees and workers were very de motivated because of the close of the mining operations and now comes there day.
Chief executive officer of Sesa Iron Ore R. Kishor Kumar, who was present at the function, said: “Due to a fall in iron ore prices in worldwide market, doubts were raised whether mining will resume in Goa or not”. We continue to work with central and state government to improve competitiveness of Indian exports, ‘ it said.
Albanese said that the company is confident to manage the business in “such trying times”. There is huge increase in expenses and we are talking to the government over issues like export duty, various cess and District Mineral Foundation.
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Codli mine which was Asia’s largest mining site before its closure has the extraction capacity of 3.1 million tons. Till date, five mining plans and schemes for company’s mines have been cleared by Indian Bureau of Mines and we are awaiting clearance of further 15 plans. Over the balance monsoon period, it expects to receive these approvals, with a full-scale resumption post monsoon.
