Panaji | Apr 10, 2017: Fresh iron ore to the tune of 20 million tons was extracted during the financial year 2016-17, an indication that Goas mining industry is getting back on the track.

The Supreme Court which is currently monitoring the iron ore extraction and has fixed a limit of 20 million tons per annum for the trade which was earlier embroiled in the controversy over largescale illegalities.

"The target of 20 million tons has already been achieved by the mine owners during the last fiscal which generated royalty of Rs 340 crores for the state," Director of Mines and Geology Prasanna Acharya told PTI today.

The industry players are hoping that the SC increases the ceiling on the export of the ore, he said.

The Directorate of Mines and Geology officials last week held a meeting with the mining firms to decide the plan of production and transportation for the current financial year 2017-18.

"An expert committee appointed by the Supreme Court has recommended enhancing the production limit and the matter is before the apex court for consideration," Acharya told the mine owners during the meeting, the minutes of which are available with PTI.

"Hence, it is the duty of the department and the industry to equitably distribute the production in eight months of the new financial year as mining activities are not carried out during the monsoon season from June to September," he said assuring that the new maximum limit of production on lease to lease basis would be distributed shortly.

The SC appointed Expert Committee in its report submitted in 2014-15 has proposed that the fresh production limit can go upto 27 million tons.

Currently, there are total 44 mining leases that have commenced its operation this season.

(Source: http://indiatoday.intoday.in/)