Sesa Goa Iron ore operations were affected by the suspension of mining in Goa and Karnataka. On 18 April 2013, the Honourable Supreme Court of India has given clearance for resumption of mining operations for A and B category mines in Karnataka subject to statutory clearances.
Sesa Goa's Karnataka mine falls under B category, and is awaiting statutory clearances, including forest clearance which expired in October 2012, to resume mining. We expect to commence mining shortly, subject to the grant of statutory clearances.
Regarding the suspension of mining in Goa, the date for initial hearing is yet to be fixed by Honourable Supreme Court of India. In the meantime, the State Government and major miners including Sesa Goa, have filed their responses to the Central Empowered Committee report. Separately, we have filed an application to the Supreme Court seeking a stay on the suspension of mining and restrictions on ore transportation.
In Q4, production of pig iron and metallurgical coke were 75% and 48% higher at 104,000 tonnes and 94,000 tonnes, respectively, due to the new capacities commissioned in Q2 FY2013. For the full year, the production of pig iron and metallurgical coke grew by 24% and 29% respectively.
Power sales were 43 million units in Q4 and 159 million units for the full year. Power sales are not comparable with the previous periods in view of Goa Energy Limited acquisition in March 2012, and the commissioning of new 30 MW power plant.
Source by Commodity Insights
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