Sesa Iron Ore which is a subsidiary of Vedanta Resources Inc has opened its second mining lease in Goa for utilizing its full annual production allowance of 5.5 million tonnes as approved by Goa government.
Sesa Iron Ore CEO Kishore Kumar said that “Sesa Goa has made significant positive contributions to Goa and the community for more than 50 years and will continue to do so. Our long-term vision is to create a sustainable iron ore mining industry in India which contributes to economic growth of the state and the country.”
He further said, “More than 85 per cent of Goa’s ore have iron ranging from 48 percent to 58 percent. This ore is not used by the domestic steel industry as evidenced by electronic auctions conducted by the monitoring committee of the Supreme Court. So exports are the only option for marketing of this ore.”