The apex court said it will pass the order in a "few days" and the cap will be subject to the final report of the expert panel.
"Whatever (cap on mining) we decide in the judgement will be subject to the final report of the panel," a bench comprising justices A K Patnaik, S S Nijjar and F M I Kalifulla said.
The bench also said it cannot go into the policy matter and will only address the regulatory aspect involved in it.
"We have to balance between sustaining environment and and economic growth," the bench observed.
Senior advocate Harish Salve, assisting the court as amicus curiae in the case, read out portions of the expert panel report that was submitted in the apex court yesterday.
To a question what will happen to money received from e-auction of iron ore if it decides to cancel mining licences in Goa, Salve suggested the money should go to the state government after giving a "normative cost" of mining to miners.
The report suggested it was not "desirable" to start fresh extraction of iron ore.
The panel said there is a "large-scale degradation" of eco-system in Goa by mining and the restoration needs timely monitoring and recommended creating a "permanent fund" for the purpose.
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