Supreme Court has lifted ban on iron ore in the state of Goa with riders, as per media reports. The apex court said iron ore mining will be restricted to 20 mtpa.

Goa government can decide on the manner in which lease can be granted. It should consider all leases expired post 2007, the court said.

Further SC said the 10% of iron ore auction proceeds should go to special fund. While the court has termed mining in the area with expired lease as illegal. 

Reacting to the report, Sesa Sterlite, Kalyani Steels and JSW Steel's shares witnessed a sharp rally.

Sesa Sterlite shares are trading at Rs 203.65, up Rs 11.05, or 5.74% at the Bombay Stock Exchange (BSE) on Monday at 2:55 p.m.

Shares of Kalyani Steels are trading at Rs 68.20, up Rs 6.05, or 9.73% at the BSE on Monday at 2:58 p.m.

JSW Steel shares are trading at Rs 1,092.55, up Rs 49.65, or 4.76% at the BSE on Monday at 3:02 p.m.