Sesa Iron Ore

The current situation is a clear indication that workers would continue to resort to illegal and unjustified activities in further time also, Vedanta said.

Sesa Iron Ore, a subsidiary of Vedanta Resources Inc, expects to make all its mines operational in Goa post monsoon.

After failing to resolve differences between mining company Sesa Iron Ore and the truck owners, the Goa government has said it would renew the efforts to restart the iron ore exports in the state.

Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year.

As Vedanta Ltd, formerly known as Sesa Sterlite, gets down to resuming mining operations in Goa after three years, the company's iron ore business CEO Kishore Kumar said the mining "cake has shrunk".

Sesa and other companies in Goa, however, are unlikely to be able to make any significant export as low world prices have made low-quality ore from India uncompetitive.

Sesa Sterlite said on Thursday the government could remove an iron ore export tax as soon as next month, and such a move would help the country's top private miner boost output after two years of mining bans.

Trading volumes on the counter surged as 5,76,000 shares changed hands on the BSE as compared to its two-week average of 5,78,000 shares.

The BSE Metals index ended 2.36 per cent higher after reports suggested that the government may take the ordinance route to ease land-acquisition rules and auction minerals such as iron ore to kick start stalled projects. Sesa Sterlite, JSPL, Hindalco all gained over 3 per cent to be among the top 5 gainers in Nifty.

Chinese rebar futures edged down on Monday and spot iron ore were down over 3 per cent last week.

Following a court imposed ban of more than two years in Karnataka, Sesa restarted mining in the state in December last year, before being asked to stop again in August.

Iron ore prices dropped to their weakest level since 2009 on Tuesday and look poised for further losses.

Sesa Sterlite Ltd has said the Supreme Court's reiteration on Tuesday of a prior ruling that all iron ore mined in Goa before 2007 belonged to the western state did not relate to the company.

Shares in Sesa Sterlite fell as much as 12 per cent to a low of Rs 218.90 on Tuesday after the Supreme Court on Goa mining said that pre-2007 iron ore belongs to the state. The pre-2007 iron ore has to be auctioned, the top court said.

India imposes a 30 per cent tax on iron ore exports, making it unviable for many domestic iron ore miners to sell overseas where prices have tumbled by more than 40 per cent this year.

The current situation is a clear indication that workers would continue to resort to illegal and unjustified activities in further time also, Vedanta said.

Sesa Iron Ore, a subsidiary of Vedanta Resources Inc, expects to make all its mines operational in Goa post monsoon.

After failing to resolve differences between mining company Sesa Iron Ore and the truck owners, the Goa government has said it would renew the efforts to restart the iron ore exports in the state.

Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year.

As Vedanta Ltd, formerly known as Sesa Sterlite, gets down to resuming mining operations in Goa after three years, the company's iron ore business CEO Kishore Kumar said the mining "cake has shrunk".

Sesa and other companies in Goa, however, are unlikely to be able to make any significant export as low world prices have made low-quality ore from India uncompetitive.

Sesa Sterlite said on Thursday the government could remove an iron ore export tax as soon as next month, and such a move would help the country's top private miner boost output after two years of mining bans.

Trading volumes on the counter surged as 5,76,000 shares changed hands on the BSE as compared to its two-week average of 5,78,000 shares.

The BSE Metals index ended 2.36 per cent higher after reports suggested that the government may take the ordinance route to ease land-acquisition rules and auction minerals such as iron ore to kick start stalled projects. Sesa Sterlite, JSPL, Hindalco all gained over 3 per cent to be among the top 5 gainers in Nifty.

Chinese rebar futures edged down on Monday and spot iron ore were down over 3 per cent last week.

Following a court imposed ban of more than two years in Karnataka, Sesa restarted mining in the state in December last year, before being asked to stop again in August.

Iron ore prices dropped to their weakest level since 2009 on Tuesday and look poised for further losses.

Sesa Sterlite Ltd has said the Supreme Court's reiteration on Tuesday of a prior ruling that all iron ore mined in Goa before 2007 belonged to the western state did not relate to the company.

Shares in Sesa Sterlite fell as much as 12 per cent to a low of Rs 218.90 on Tuesday after the Supreme Court on Goa mining said that pre-2007 iron ore belongs to the state. The pre-2007 iron ore has to be auctioned, the top court said.

India imposes a 30 per cent tax on iron ore exports, making it unviable for many domestic iron ore miners to sell overseas where prices have tumbled by more than 40 per cent this year.