Panaji (Goa): Goa Foundation (GF) today claimed that the illegal lease renewals granted to 88 iron ore mines resulted into the loss of Rs 79,836 crores to the State exchequers.

GF has challenged the renewal of 88 mining lease before Supreme Court, who has reserved its order in the matter. The final hearing concluded on Tuesday.

Speaking to reporters, GF director Dr Claude Alvares said that the loss to state exchequer was to the tune of  Rs 79,836 crores due to illegal renewals granted to the lessees, which were identified of being involved in illegalities by the Apex Court way back in 2014.

While, on the other hand, Karnataka and Orissa government has earned revenue of Rs 94,478 crore through auction of only 10 leases, Alvares pointed out terming that the Supreme Court is been very clear that the natural resources has to be auction.

“The act of renewing 88 mining leases for mining in Goa with a total annual production capacity of 44 million tones is complete illegal. It violates the constitutional provisions governing the allocation of natural resources, highlighted by the Supreme Court in the cases of coal block allocations and 2G scam,” Alvares said.

He has further claimed that State faced loss of another Rs 65,000 crore due to the failure of government to recover the amount from the companies, whose mining activities from November 2007 till October 2012 were termed illegal and invalid by the Supreme Court.

“The total loss to the State treasury stands at Rs 1,44,836 crores,” he concluded.