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Goa Mining Operations Unattractive Despite Lifting of Ban
Jan. 28, 2015 11:24AM PST
Base Metals Investing Mining Weekly reported that even though the ban on iron ore mining in the Indian province of Goa has been lifted, few mining operations have resumed due to falling prices and the Indian government’s refusal to lower export taxes.
Mining Weekly reported that even though the ban on iron ore mining in the Indian province of Goa has been lifted, few mining operations have resumed due to falling prices and the Indian government’s refusal to lower export taxes.
As quoted in the market news:
According to an official in the Goa Mining Association (GMA), a representative body of miners in the province, with international iron-ore prices at a five-and-a-half year low, current offers from buyers did not ensure any margins for miners post the taxes and levies payable to the government.