Vedanta Resumes Mining Operations In Goa After Six-year Hiatus
After a six-year hiatus, mining activities have resumed in Goa as Vedanta, led by Anil Agarwal, commenced operations at the Bicholim mineral block.
The Bicholim mine marks the first operational venture since 2018 when the Supreme Court imposed a comprehensive ban on mining in Goa, nullifying 88 mining leases in March of that year.
In a statement issued on Thursday, Vedanta expressed its commitment to ushering in a new era of development by initiating mining operations at Bicholim Mineral Block 1. The company underscored the potential for job creation and economic stimulus that the resumption of mining activities brings to the state.
According to reports, Vedanta secured the rights to the Bicholim block through a successful bid in 2022. Following this, the company obtained environmental clearance from the central government in January 2024, paving the way for the commencement of mining operations.
Navin Jaju, CEO of Sesa Goa-Vedanta, hailed the event as a catalyst for Goa's progress, emphasising the significance of iron ore mining at Bicholim in driving the state's economic growth.
Historically, mining has been a substantial contributor to Goa's gross domestic product, accounting for up to 20 per cent of its economic output, according to Vedanta. The company anticipates that the operationalisation of the auctioned mines will significantly bolster the state's GDP through various revenue streams, including auction premiums, royalties, and contributions to the District Mineral Foundation.
The Chief Minister of Goa, Pramod Sawant, lauded the resumption of mining operations as a historic moment for the state. He acknowledged the hardships faced by Goa during the ban period and expressed optimism about the revitalisation of one of the state's key economic sectors.
The revival of mining activities in Goa signifies a significant milestone for the region, promising not only economic rejuvenation but also renewed prospects for employment and development. As Vedanta sets the wheels of the mining industry in motion once again, all eyes are on Goa as it charts its course towards a more prosperous future.
