Goa Chief Minister Manohar Parrikar has told the monsoon session of the legislative assembly that 40 mining leases, of which around eight to 10 mines are operational, could be cancelled.
Parrikar said a decision on the mining leases would be taken soon, after following the process of natural justice and getting the opinion of the firm operating the mining lease
He added that several of the mines were given the green signal by the Congress-led coalition government that was in power from 2007 to 2012.
From the list of 40, Parrikar said only "eight to ten" mining leases were operational.
More than 300 mining concessions were parcelled out to entrepreneurs and prospectors by the Portuguese regime, which ended in 1961 when the territory was annexed by India.
Of these 300-plus concessions, nearly 82 active mining leases are being worked by mining firms.
Goa exported over 50 million tonnes of iron ore in the last financial year.