Goa government to allot 27 mining leases; Sesa Sterlite rallies

MUMBAI: Sesa Sterlite was the top gainer on the Nifty in trade today following reports that the Goa government will allot at least 27 mining leases from September 30 to October 10 this year.

Goa chief minister Manohar Parrikar said his government will renew leases of 27 holders which include Sesa Sterlite, V M Salgaocar & Sons, Chowgule & Co and Sociedade de Fomento. His government will also finalize various schemes for the support of the mining-affected including truck owners, tea shop owners, etc by October.

The government will finalize all other mining-related issues latest by the end of this calendar year.

According to TOI sources, companies including Sesa Sterlite and V M Salgaocar & Sons have paid the stamp duty.

Parrikar assured that the government will definitely conduct an investigation into illegal mining and fulfill the demand for recovery of dues and for providing revenues for the government.

But as per the judgment of the Supreme Court, the state government cannot prosecute anybody unless all are given the opportunity of being heard.

At 09:40 a.m.; Sesa Sterlite was at Rs 303.10, up 3.38 per cent, on the NSE. It touched a high of Rs 304 and a low of Rs 297.65 in trade today.