GOA: ONE OF INDIA'S LEADING PRODUCERS OF ORE... AND POLLUTION
NO MINE MANAGEMENT
Given the nature of mineral resources in Goa, vast quantities
of overburden and waste material is generated while mining.
Deep quarries are formed which can be filled up by the
overburden. However, most mines, helped by poor regulations,
just don't bother.
Reclamation has found very few takers in Goa. For Goa's mine
owners, mines are important only as long as something can be
exploited from them -- afterwards, they are just pits.
Literally.
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Folks,
I am baffled by this one as, so far, only one person has commented on this
subject.
This usually means that:
1) People do not care
or
2) People are too afraid to tackle the issue.
This made me take one more look at Sesa Goa's stock price. It seems that the
stock price fell when the Indian Govt imposed a 15% tax on iron ore exports.
This morning, mining giant, Rio Tinto, got the Chinese Govt to agree to pay
96.5% more for iron ore.
If Sesa Goa does not go below Rs. 3,000 it becomes a buy. The target
price Bloomberg has for the company is Rs. 5,000. I feel that the Chinese Govt
will soon demand more ore from Goa.
Mervyn3.0
Here is a snip from Bloomberg today.
Sesa Goa (SESA IN) India's biggest non-state iron ore
exporter rose 61.7 rupees, or 1.8 percent, to 3435.30 after
analysts said Nippon Steel Corp., the world's second-biggest
steelmaker, and Asian rivals will probably accept a record
increase in iron ore prices from Rio Tinto Group.
To contact the reporters on this story:
Archana Chaudhary in Mumbai at +91-22-6633-9021 or
[EMAIL PROTECTED];
To contact the editor responsible for this story:
Nicolas Johnson +81-3-3201-8343 or
[EMAIL PROTECTED]
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