Sesa Goa, a majority-owned subsidiary of Vedanta Resources plc, anticipates that the country’s iron ore exports may fall by a third to 65-70 million tonnes in the year to March 2012. The company also expects that the western state of Goa, which was the top exporter last year, may ship 45-50 million tonnes, down from 54.42 million tonnes in the year earlier period. Also any mining ban in the state would hit exports from Goa.
Recently, the company was expecting the mining ban in Karnataka to be lifted by December, enabling it to resume normal production in the state from early 2012. Inspection of the company’s mine by apex court nominated agency was over and so the company was hoping, the case to come to a conclusion by this quarter. The company further anticipates, resuming its normal production and sales from the state by next quarter.
Sesa Goa is in the business of iron ore mining (accounts for 85 percent of revenues), and manufacture of pig iron (9 percent) and metallurgical coke (6 percent).
