JOE LOUIS

 30 years experience in the mining industry

 Worked as an Executive Director at Cidad de Goa

Fomento is part of a mining industry for the past 55 years. Cidad de Goa is also part
of the Fomento Group which has been in the tourism industry for 28 years.

Mining Industry

The mining industry is the most important industry in the state of Goa. Almost 70%
growth in the economy of Goa depends directly on mining. Fomento produces iron
ore and manganese. Minerals are not produced. It is a blessing to any state and Goa is
one of them. The Japanese were the first to come to Goa and start in mines. Each
mine in the country belongs to the central government. The government then leases
out these mines to those interested for a period of 20 years. This period is extendable.
The government gets a royalty for the trade carried out from the extracts of the mine

Fomento in all has 26 mines in Goa, Karnataka, Maharashtra, Andhra Pradesh etc. It
has a workforce of 2500 employees.

Mining has some negative effects that need to be dealt with properly. Mining is not
bad if done properly or carefully. Forest mining has been band by the government
because it leads to deforestation and degradation in the eco system; while mining
precautions need to be taken, like taking care of pollution, refilling of the earth and
also providing water in the surrounding areas.

Fomento has two kinds of ores i.e. flakes and fines. The profit made by the Fomento
Company is re-invested in developing roadways and railways. Fomento does not over
load their trucks.
Each truck has a capacity of 12 tones.
Trains = 3700tones
Barge = small 700 tones, mid 1500-2000 tones and big 3000 tones
Ships =average 50000 tones and large 120000 tones “Cape Size”

The customer for iron ore manufacturer is the blast furnace. The company needs to
make sure that the produced iron ore reaches the blast furnace safely.

In a mine, the mines manager is the most important person. To become a mining
manager, one needs to answer 3 exams. If you pass with a first class, you can become
a mines manager. If you get a second class, you can become an assistant manager.
Tourism Industry

Passion and hard work is the key to become successful. 75% of the industries in India
are service industries.
In Goa the tourism industry is growing by the day. It is very important to do
something different and contribute to this growing industry. One needs to think out of
the box and come up with new innovations to help the tourism industry growth.
In tourism, relationships are very important to build up a successful unit.

Co-operate Social Responsibility

Fomento invests most of its profits in the society. They concentrate on helping
women and children. They have old-age homes for women especially. They also have
scholarships for the 8th, 9th and 10th grades and they sponsor their education till they
want to study.

They also have a clinic with doctors and an ambulance service which is completely
free for the public. The most important factor in the CSR is the organization
employee participation.