The Goa Mining Association has claimed that delays for a fiscal correction by the government would further aid large competitors as there is no level playing field for the mining industry in Goa.
“Despite falling prices, and warnings from the Chinese steel sector, certain large players in Australia and Brazil have not shown signs of slowdown, but are adding capacities as expansions were planned based on boom times and returns of investments of equipments added are needed. This adds up to the woes of the rest of the suppliers,” Goa Mining Association President Narayan Bandekar has said in a statement issued on Friday.
“Hence, early intervention is a must by Governments if it is serious on resumption of mining,” he said.
Bandekar said the mining Industry is facing hardships on resumption of operations even within the reduced capacities of 20 metric tons as earmarked by the Supreme Court. He said that quite a number of mines, despite receiving necessary permissions, are now faced with falling prices in the international market, which are at 10 year low.
“Apart from this, few cases are still yet to receive necessary clearances from various departments which have been pending for a while,” he said.
He said even the E-auctions conducted by the State Government had not been entirely successful, which indicates market sentiments.
