The announcement has certainly put a smile on the faces of mining stakeholders; they are bound to save 10% export duty usually paid to the government. There are many consequences for this action. But, it leans more towards (at least in Goa’s context) benefiting the mining industry in the state.
Mine owners in Goa will be exempted from paying export duty as iron ore mined in Goa has Fe content below 58% (for which the duty has been exempted). According to the news reports, it is speculated that mining operations will resume in the coming season (mostly October). For now, the main focus seems to be on selling the already mined ore.
miners were upset due to the drop in prices of iron ore across the globe, but this new development will certainly cheer them.
