Mining industry concerned over 'export cap'
PTI, PANAJI | 10 August 2012 20:11 IST
The mining industry in Goa today expressed reservation over the draft state mining policy tabled in the Assembly recently suggesting a cap on quantum of exports of iron ore at 45 million tonnes per year.
Goa Mineral Ore Exporters Association (GMOEA) President Shivanand Salgaoncar said the proposed cap on exports "is a matter of concern".
The state had exported iron ore of 43 million tonnes last year and 54 million tonnes the year before.
The association in a press note released today has also expressed apprehensions over the amendment to the Indian Stamp Duty Act, which makes it mandatory for mine-owners to pay upfront 15 per cent of the royalty for next 20 years while getting the mining lease renewed.
Salgaoncar said that the additional financial burden imposed on the mining industry is also a matter of concern and GMOEA would make suitable representation to the government after examining all the provisions in the draft policy.
The association, however, has overall welcomed the policy for putting in place a broad framework for the development of the mineral industry in Goa and dispelling uncertainties that confronted the industry in the recent past.
"The regulatory mechanism proposed is most progressive and will ensure that production, export and transport of minerals is monitored to maintain total transparency," he said.
