PANAJI: Goa’s iron ore reserves have been pegged at 363.229 million tonnes, and remaining resources are estimated at 1092.42 million tonnes by the Indian Bureau of Mines as on April 1,2015.
This information was given in the Rajya Sabha by the Union Minister of State, Ministry of Steel. Of this, iron ore hematite reserves are 358.239 million tonnes (358239000 tonnes), and remaining resource is 831.075 million tonnes (831075000 tonnes), and Iron ore magnetite reserves are 4.99 million tonnes ( 4990000 tonnes), and the remaining resource is 261.345 million tonnes (261345000 tonnes).
A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits. Reserves are subgroups of a resource that have been discovered, have a known size, and can be extracted at a profit.
The state Directorate of Mines and Geology (DMG) had last month conducted the e-auctioning of four iron ore blocks, with an aim to pave way for the resumption of the state’s iron ore mining industry in the state.
The industry, which used to be one of the major revenue earners for the state, had come to a standstill in 2018 after the Supreme Court quashed 88 mining leases.