Indian natural resources company Vedanta has reopened its Codli mine in Sanguem taluka in the Indian state of Goa following a three-year ban.

Vedanta said it has received the relevant consent, license and approvals from Indian Bureau of Mines to commence iron-ore mining operations in Goa for some of its leases.

In 2012, the Supreme Court banned mining in a bid to curb illegal mining, but the ban was lifted in April 2014.

The company received approvals to restart mining at its Codli and Bicholim mines and expects final clearances to other mines by end of August.

Mining will be restarted completely post monsoon season and by the end of the current fiscal year the company plans to use its full annual production allowance of 5.5 million tonnes.

Goa Chief Minister Laxmikant Parsekar said: "We have done all what we could to restart mining and will continue to do whatever is required.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"I had given a date of October to restart mining and Vedanta has surprised me by reopening 2 months earlier."

Vedanta Iron Ore Business CEO Kishore Kumar said: "The resumption of mining will resume the employment of many mining dependent people, the government will benefit from increased revenues and communities will be empowered.

"I urge the government to note the current market scenario, with the steep downturn in prices, and more importantly resolve the issue of dumping of ore outside lease areas for Goa mining to be viable."

The state expects iron ore production to cap at 20 million tonnes a year.