In a reversal of its mining policy of 2015, the government of the western Indian state of Goa has decided that not only new iron ore mines but also existing operational mines will be put up for auction once the lease period of the latter expires in the years ahead, a government official said on Monday, April 11.
The official said that, once the Supreme Court lifted the ban on iron ore mining in the western coastal province last year, leases of around 89 mines were renewed by the government to get them back into operation.
However , upon expiry of these mines over the years up to 2027, the Goa government will not renew the leases further but will put them up for auction for fresh bidding, he said.
The Goa government official said that, of the 89 mining leases which had been renewed, only 14-15 have come back into operation since last year, and, while there will be legal hurdles in cancelling the renewed mining leases, the government will ensure auction of the mines as the current mining leases start to expire over the years to bring in new investors and ensure that more mines become operational progressively.