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The continuation of halt on Goa's mining activity will result in the iron ore industry losing its overseas markets, built during the last six decades, the state's mining exporters have said in a 'white paper'.
The white paper, published by the mineral exporters titled 'Sustainable legal operations – not suspension – the solution', has said the halt on the mining industry will result in inflation and steep loss of revenues for Goa and India.
"If the suspension continues for long, the iron ore industry risks permanently losing its overseas markets, assiduously built up over 60-plus years, apart from the steep loss of revenues for Goa and India," according to the paper.
"Iron ore exporters are also suffering losses, some of them irreparable, due to lost trade opportunities. The companies in Australia, Brazil, and South Africa and perhaps even other nations rush to fill the supply void with India's export partners such as China, Japan, Korea and certain European nations," the exporters said.
"The likelihood of regaining these markets recedes with every day that mining remains suspended in Goa," they added. The question mark on Goa's mining industry was raised following a report by Justice M B Shah Commission, which had alleged large scale illegal mining in the state.
