Business Standard Dilip Kumar Jha / Mumbai September 09, 2009, 0:22 IST
Fourteen of the 103 operating leased mines in
The ministry of environment and forests had earlier issued notices to owners of these mines in which the latter were asked to submit official documentation and details of clearances submitted to the ministry while obtaining the “green signal”.
The development assumes significance as miners are delaying submitting documents to the ministry as the demand for iron ore from
Confirming the delay by miners to submit documents to the environment ministry, Glenn Kalavampara, Secretary of Goa Mineral Ore Exporters’ Association (GMOEA) said, “Mineowners are not in a hurry due to slowdown in mining activities during monsoon.” He, however, added that miners are successfully getting clearances as and when they submit documents to the ministry.
“All coastal activities including handling of ships remain closed during three months of monsoon due to high water level on Goan ports. Therefore, miners are waiting and watching the price movement in Chinese market,” said Haresh Melwani, CEO, H L Nathurmal & Co — a Goa-based miner and exporter of iron ore.
Meanwhile, iron ore prices have declined to $80 a tonne now from $115 a tonne about a month ago as
Indian miners would not be interested selling iron ore of 63.5 grade below $80 a tonne while Chinese steel mills would stay away from spot market for some more time to create pressure on miners to cut prices, Melwani added.