Goa govt temporarily bans mining activities

In a major development the Goa government has temporarily suspended operations of all 90 iron ore mines effective from today in the state after the Shah Commission report, which was tabled in Parliament last week, found "serious illegalities and irregularities" in mining operations. Meanwhile Sesa Goa and Sterlite Industries shares fell more than 5 percent after the suspension of all mining activities. Analysts don't see this ban on mining continuing for a long time as the mining companies have been asked to submit a report in a week's time. The order was issued late Monday evening, a few days after an enquiry commission headed by Justice M.B. Shah exposed an illegal mining scam to the tune of Rs.35,000 crore in Goa's 90-odd operational mines.