Wednesday, 17 October 2012

Goa's great mining plunder - Part 3

Export of Ore from Goa

Sebastian Rodrigues, October 2011
 
Goa’s mining industry has largely been described as backbone of Goa’s economy. While it is true that mining industry in Goa fetched huge amount of income to the mining companies and also foreign exchange to India this money has not reached to the villagers from where the ore is exported. In fact there is no way of knowing for public as to from their village how much ore has been exported and how much mining companies has earned. The data that is available is combined data for specific mining companies of their mines all over Goa. Every financial year this data is published by Goa Mineral Ore Exporters’ Association (GMOEA). It published the data about the amount of ore exported, how much, to which country. It does not share any information at to how much each company earned from these exports. This also does not provide data as to what are the net profits that each exporting company earned for particular year. Nor does it provide any information on as to how much profits each mining company made. The only way of knowing this is to find out international price rate of the ore and then calculate. The calculations here are done on this very basis. Goa’s iron ore is sold in the international market at the rate ranging from Rs.5/- per kilograms to Rs.8/- per kilograms. 1,000 kilograms makes up 1 tonne of ore.
The exports of Goa’s ore from Marmagoa port alone as published by GMOEA is as follows (besides there is also Panjim port that exports):
YEAR
TONNAGE in ‘000 TONNES
Estimated earnings @Rs.5000/- per tone (not from GMOEA data)
1981-82
13,740
68700000000
1982-83
11,403
57015000000
1983-84
11,885
59425000000
1984-85
12,589
62945000000
1985-86
14,282
71410000000
1986-87
14,025
70125000000
1987-88
11,701
58505000000
1988-89
13,660
68300000000
1989-90
12,348
61740000000
1990-91
13,172
65860000000
1991-92
12,200
61000000000
1992-93
13,347
66735000000
1993-94
15,754
78770000000
1994-95
15,294
76470000000
1995-96
15,127
75635000000
1996-97
14,758
73790000000
1997-98
18,678
93390000000
1998-99
14,969
74845000000
1999-00
13,811
69055000000
2000-01
15,713
78565000000
2001-02
17,576
87880000000
2002-03
18,718
93590000000
2003-04
22,631
113155000000
2004-05
24,609
123045000000
2005-06
24,926
124630000000
2006-07
26,561
132805000000
2007-08
26,846
134230000000
2008-09
33,766
168830000000
2009-10
39,504
197520000000
2010-11
39,956
199780000000
Total
526,637
2633185000000

Exports of iron from Panjim port for the last 3 years is also available from GMOEA as under:
YEAR
TONNAGE
Estimated earnings @ Rs.5000/- per tone (not from GMOEA data)
2008-09
11,822,210
59111050000
2009-10
13,627,756
68138780000
2010-11
14,467,979
72339895000

Destination wise share of Mormugao & Panjim Ports during 2010-11 as per GMOEA data:
DESTINATION
TOTAL (in tones)
Estimated earnings @ Rs.5000/- per tone (not from GMOEA data)
CHINA
48,935,697
244678485000
JAPAN
3,472,251
17361255000
SOUTH KOREA
1,091,828
5459140000
U.A.E
76,900
384500000
QATAR
25,000
125000000
PAKISTAN
83,333
416665000
THAILAND
69,710
348550000
NETHERLANDS
484,600
2423000000
RUMANIA
159,430
797150000
ITALY
26,000
130000000
TOTAL
54,424,849
272124245000

The total exports of iron ore from Marmagoa and Panjim ports for the past 3 years as per GMOEA is as under:
YEAR
MORMUGOA
PANJIM
Total
2008-09
33,766,000
11,822,210
45588210
2009-10
39,504,000
13,627,756
53131756
2010-11
39,956,870
14,467,979
54424849
TOTAL


153144815

The estimated income of 153144815 (Fifteen crore thirty one lakh forty four thousand eight hundred and fifteen) tonnes of iron export at the rate of Rs.5000/- per tone in international market that private companies earned during past three years amounts to Rs.765724075000/- (Seven thousand six hundred fifty seven crore two hundred fourty lakhs and seventy five thousand). In addition Goa exported manganese and bauxite amounting to 25,200 tonnes. Costs of these minerals are even higher than iron ore and are not included in the above calculations. Earnings from iron ore alone have crossed the figure of Rupees seventy six lakh crore. The total earnings from 1981 up to 2011 from iron exported from Mormugoa has crossed 263 lakh crores.  

Sesa Goa owned by Vedanta that has taken over Goa’s Dempo mining corporation few years ago and listed on London stock exchange is the top most exporter of Goa’s iron ore for 2010-11. Sesa Goa is followed by Fomentos and  then Salgaoncars.

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