India's Goa State To Introduce Mining Cap


News: India's Goa state will find out on November 11 2013 whether it can restart mining activities following a year-long ban, Yahoo! News UK & Ireland reports. If lifted, the region's mining regulator stated that it would introduce new laws limiting fresh mining extraction to 20mn tonnes a year, down from previous levels of around 42mn tonnes per year. The regulator stated that the move would help to reduce pressure on local roads and infrastructure.

BMI View: India's mining industry will continue to be characterised by regulatory and bureaucratic hurdles, while corruption will stifle growth in an already poor operating sector. Overall, we forecast the country's mining industry to reach a value of US$57.5bn in 2017, growing at an average rate of 5.3% per annum.

This article is tagged to:
Sector: Mining
Geography: India