Team Goemkarponn
Panaji: In an effort to resume the stalled auction of low-grade iron ore dumps, the Goa State government has introduced minor amendments to its dump handling policy, originally issued in September 2023. The revised policy was approved by the State Cabinet during its meeting on Monday.
Chief Minister Dr. Pramod Sawant, addressing reporters post-meeting, explained that the updated policy now includes provisions for managing ore dumps situated both within and outside active mining leases. Significantly, the policy has been expanded to cover tailings — residual waste left behind after mineral processing.
This policy revision comes in the wake of the Directorate of Mines and Geology (DMG) abruptly halting three remaining phases of the e-auction planned earlier this year, citing technical glitches. The auctions, scheduled for January 31 and February 3 and 4, were called off after just the first phase was executed.
Despite the setback, the auction attracted considerable interest, with 125 bids received for 18 iron ore dumps, amounting to 5.2 million metric tonnes. The iron content of the material ranged between 45% and 50% Fe, based on assessments conducted in a prior dump profiling study.
In a parallel decision, the Cabinet also announced a final extension of the debt relief scheme aimed at mining-impacted borrowers. The scheme, which was first introduced in 2012 and extended multiple times over the years, will now remain open until March 31, 2026. However, the extension is limited to applications either under process with banks or previously rejected due to technical reasons.
The scheme offers a government subsidy of up to 35% on the total loan settlement amount. Additionally, financial institutions grant a complete interest waiver, and a principal waiver of 40% for truck operators and 30% for barge owners, providing significant relief to those affected by the downturn in Goa’s mining sector.
