Parrikar had told reporters yesterday that the policy is ready and it would be placed before cabinet for approval on next Tuesday.
The mining industry, which is the biggest revenue earner for the state has been kept on hold since last two years following allegations of largescale illegalities in the sector.
The Supreme Court which was hearing the petition filed by an NGO had imposed a ban fresh extraction of iron ore and its export from the state.
The ban was lifted in April this year with a pre-condition that state government should formulate a proper policy.
Parrikar has said that by October 15, at least 27 mining leases would be licenced. The Government is expecting the industry to resume by January next year.