Dump handling policy for iron ore approved says Goa CM to help in auction export

Panaji, Mar 15 (PTI) The Goa government on Friday approved the state's Dump Handling Policy to pave the way for auction of low grade iron ore and export.
In the first phase, erstwhile mining lease holders who have iron ore dumps on their lands will be allowed to export after adhering to procedures, Chief Minister Pramod Sawant told reporters.
Dumps on which convergence fee is paid would be able to to export the ore after paying royalty to the state government, Sawant added.
"The state government expects revenue of Rs 200 crore from these dumps. In the first phase, 10 million metric tonnes of ore can be exported. Owners of dumps will have to pay premium to the state government. The premium amount has not been decided as yet," he said.
"Twelve lease holders have applied for permission to export. As per the policy, only an exporter would be eligible to buy ore from the lease holder," the CM said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)