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Also giving a lift to iron ore prices (and the stocks of the companies that dig it up) is the...

Also giving a lift to iron ore prices (and the stocks of the companies that dig it up) is the Indian Supreme Court banning all mining activity in the state of Goa. The case stems from questions over whether the proper royalty has been paid on mined ore. VALE +2.2%.
Comments (1)
  • dernpets
    , contributor
    Comments (19) | Send Message
     
    Yes - local political corruption is high and this is good decision by the courts; besides - the mining stoppage, should help alleviate the miserable operating comditions and environmental damage within the area, at least temporaily.

     

    The neighbouring state of Karnataka had similar issues, last year, that almost displaced the states chief minister - but with illegal mining permits, in this case a much more serious issue;

     

    Fortunately none of these companies scrips trade hear; though large international companies are arriving on the indian mining scene - viz. Posco and Vedanta of the UK .

     

    Ironic that both Brazil and Goa are old portugese colonies.
    8 Oct 2012, 11:04 PM Reply Like
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