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Showing contexts for: spin-off in The Goa Foundation vs M/S Sesa Sterlite Ltd. And Ors. on 7 February, 2018Matching Fragments
79. The Mineral Policy informs us that the beneficiaries of the rapaciousness were not the domestic industry and certainly not the average Goan. The reason for this is spelt out in the Mineral Policy itself. Iron ore from Goa is not suitable for the Indian industry due to the low Fe content and the high silica presence. Therefore, there is no value addition to the Indian industry and the iron ore was mined only for export – mainly to China and also to Japan. With a port in the vicinity, Goan iron ore was an attractive buy for the global market and the spin-offs benefited those in the port, transporters and barge owners etc. The primary beneficiary of this was, of course, the mining lease holder, a private entity, and the price was paid by the average Goan who had to suffer a polluted environment and witness the damage to the State‟s ecology.