Iron ore and coal mining were once major contributors to Goa's economy. However, they were closed down many years ago due to environmental concerns. But, Goa's mining industry may soon see the light of day again.

Pramod Sawant, the Chief Minister, announced recently that a mining corporation will be formed to restart mining. He also mentioned that the government is serious regarding the auction of leases.

Vedanta Group was one of the few players involved in mining in Goa. Vedanta also holds a stake in the Mormugao Port coal handling facility. This latter account also includes cargo handling to support JSW's and Adani coal project in Goa.

The recent announcement of the chief minister marks an important turning point for Goa's mining industry. This will open up new opportunities for players and increase employment on a larger scale if it is executed well.

After Goa banned mining, Goa's unemployment rate soared to 34.5 percent from below 10 percent. This put at risk the livelihoods and security of more than 30 percent of the state's citizens.