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India resumed the mining of iron ore

5 May 2014
India resumed the mining of iron ore

The government of India allowed the re-production of iron ore concentrate in the territorial district called Goa. The ban, which authorities have transferred to the owners of the mines, lasted about twenty-four months. According to the legislation of the Indian state to carry out certain types of work it is necessary to obtain licenses from the government. Mining, because of its great importance for the country refers to such areas, subject to licensing. After receiving the initial permit after it has expired the owners of the mines not taken care of timely prolongation of the act, which led to litigation with state officials. After paying all fines Indian government went against the mine owners and has partially lifted a ban on the mining, ore production. It should be noted that the iron ore required for the production of various types of steel products from mines located in Goa is almost entirely exported all over the world. So simple of an important enterprise, which fills the local budget and the state of the Indian Treasury is beneficial not only to the Industrialists but to the leadership of the country. Now the annual limit of extraction of raw materials set by the court approximately twenty million tons, however, after a complete renewal of documents such limit may be revised upward. By the way, the resumption of export of Indian ore could pay an extra touch of aggravation in such market segment of the world community. Now the materials of such a type are falling in price, due to excess metal on the exchange of such raw materials. Additional release in the sale of Indian iron ore could further upset the delicate monetary balance and completely destroy the stability of the value of the raw material. Despite the fact that the production of ore concentrate in Goa is seasonal, and the main period of work in the mines to last from late autumn until early spring, made during the period of reserves is enough for an active trade in the material throughout the year. From may to September heavy rainfall of the monsoon type complicates the work in the mines and forcing owners to stop production completely. Despite this frequency, the amount of mined ore raw materials will still be able to make additional imbalance on the metal market.

30 April 2014
6 May 2014