It's reported that Indian Supreme Court announced the cancellation of all 88 mining licenses in the Goa region, which might result in a marked decline in the annual iron ore production in India.

A local natural resources company, Vedanta, also evaluated the verdict. It was also expected to have a significant impact on the company's annual output of iron ore.

Indian Supreme Court recently ruled that mining activities couldn't longer take place in Goa area after March 15, 2018, while the Goa region, as a major producing region of iron ore in India, might have caused a marked drop in the output of local iron ore.

Vedanta said it was also difficult for mining companies to secure a new license after March 15. However, 20 affected mining companies could only wait patiently for results.

The area of Goa produced 50 million tons of ore a year, most of which were exported to China.