New Delhi : Mining conglomerate Vedanta Ltd is likely to start iron ore mining at the Codli mines in Goa on August 10. Vedanta will restart iron ore business in Goa on August 10 after a closure for nearly 3 years. It will be a ceremonial reopening, scheduled to be formally inaugurated by Goa Chief Minister Laxmikant Parsekar, a person in the know of the development told PTI.
The actual operations will begin post monsoon around the second half of September, he added.
The Anil Agarwal-led firm has a permission to mine 5.5 million tonnes per annum (MTPA) of the total permitted 20 million tonnes (MT) capacity for iron ore production in Goa by the Supreme Court.
“As of now, approvals have been obtained for Codli mine, which has 3 leases and 3 million tonnes permissible production capacity (out of 5.5 MTPA),” he said.
Bicholim is another mine for which all permissions have been granted, which means approval of the mine plan from IBM and NOC from Goa Pollution Control Board on water and air pollution, he added.
Vedanta Ltd will commence operations at a time when iron ore prices are at their lowest. Since the closure of mining operations in September 2012, prices have crashed to $32-33 per tonne for Goa grade of iron ore (average grade 58% FE) from a peak of about $140 per tonne in 2012.
