Goa-Free from Mining Ban after 18 Months, Expert Speaks: Vaman Kumar, Nordbell Commercial, Limited

Vaman Kumar, an industry expert associated with Nordbell Commercial Limited, shares his insight on the recent lifting of Mining ban on iron ore.

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Vaman Kumar Nordbell

Vaman Kumar Nordbell

(PRWEB) April 23, 2014

A year and a half post a strict ban on mining, the Supreme Court has now lifted the restrictions on mining in the region. However, this doesn’t come without riders. At a time when the iron ore market prices are facing a slump, this news comes as a breather. This order by the Supreme Court might bring some respite to those Indian companies who depend on the Indian supply of iron ore. It is believed that the price changes will bring a positive impact on the iron ore stock prices.

Nonetheless, even though the ban has been lifted, actual production might begin only in about six months or more. As per a recent report that Vaman Kumar, an expert associated with of NordbellCommercial Limited, has used in his study of iron ore and its stock performance, “The Supreme Court order is significant for SesaSterlite, the main subsidiary of mining conglomerate Vedanta. SesaSterlite is the largest private sector iron ore producer in India. Its iron ore business, earlier known as Sesa Goa, is based in Goa.”

The ban was levied because of the findings of Justice MB Shah Commission report. The report established that a loss of approximately Rs. 35,000 crore was faced by an exchequer because of illegal mining at the region for more than 12 years.

As per Vaman Kumar’s study, lifting the ban on iron ore mining in Goa, will have some impact on the stocks of Iron Ore. The exports of the mineral to the regions where there is demand will also be impacting the stock prices positively. He includes this detail in his research on the iron ore markets.

About Vaman Kumar

Vaman Kumar, is an an industry expert in the field of international trade and global commodity trade especially in the field of iron ore trading. He has been associated with Nordbell Commercial Limited and his interests include Metals, Minerals and Energy in Commodity Trading, International trade, Banking, Finance and Credit and Risk Management.

Source:
http://profit.ndtv.com/news/industries/article-supreme-court-lifts-goa-mining-ban-after-18-months-386089

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