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Goa Chief Minister Manohar Parrikar today said that there was no other option other than auctioning mining leases to resume iron ore extraction in the state, which is set to stop from March due to a Supreme Court order.
The apex court had recently quashed 88 mining leases in the state, with extraction of ore allowed only up to March 15, 2018.
"We are not in favour of forming any kind of corporation to handle these leases. The proposal for forming a corporation is not viable as the state government will invite multiple problems," Parrikar said in a statement issued here this evening.
Parrikar was responding to the demand of forming a state-run corporation to handle the mining business.
"Now its only auction which can resolve the issue, but in an auction we cannot restrain anyone from participating," he said, adding that the state was studying all aspects of the SC order.
He said that the closure of the leases would not have a major revenue impact on the government but "those dependent on mining could face the heat of the order".
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)