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Licenses of many iron ore traders suspended in India's Goa state

The Directorate of Mines and Geology (DMG) of India's Goa state has invalidated the registrations of more than half of its iron ore traders after many companies failed to submit required documents for verification.

Licenses of many iron ore traders suspended in India's Goa state

The Directorate completed the document verification process for mining companies by canceling the licenses of traders involved in illegal mining activities. According to officials, more than 100 of approximately 250 registered traders did not submit the necessary documents to renew their registration.

Following the suspension of mining activities in the state in 2012, DMG had suspended the licenses of 460 traders. Currently, the directorate has required traders to submit 12 documents to renew their trading licenses, but only half of the traders have complied with this policy.

In response, the Goa government has initiated the registration of new traders to deal with newly mined iron ores in the state.

Newly registered traders will be allowed to purchase, export, and trade iron ore, thereby contributing to the revival of the mining sector in Goa.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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