Panaji (Goa) Goa government has identified 174 iron ore mining leases for auction in 2020; however, the same is subject to the Supreme Court decision on a petition to set aside the Goa Abolition Act 1987.

Addressing press conference after attending the Fifth national meet of the Minister of Mines from 21 mineral rich States, Chief Minister Manohar Parrikar said that there are totally 174 mines whose lease period expires in 2020.

“We have identified 174 leases whose 50 year lease period expires in 2020. However, there is one important matter before the Supreme Court challenging the Abolition of Concession Act 1987. It is yet to be decided,” he said.

“If it is decided as per the act than these 174 leases expires in 2020 but if the decision goes for prospective abolition than the lease life ends in 2037,” Chief Minister explained.

Government is also doubtful about auction due to the current 20 million tons cap on production.

“Who will come forward to buy a mine, when there is no guarantee of export?” Chief Minister questioned.

During the meeting chaired by Union Minister for Mines Narendra Singh Tomar, it is decided that the process of auctioning of the mining leases, which expires in 2020 would begin with immediate effect.

So far 30 blocks have been auctioned across State that fetched revenue of Rs 1,28,000 crore.