PANAJI
After nearly a year’s gap, the Directorate of Mines and Geology (DMG) will auction 7.5 lakh metric tonnes of iron ore through e-auction on October 13 and 14. The ore is stacked at different locations, and the DMG expects to earn around Rs 100 crore from the sale.
This will be the 31st e-auction conducted by the DMG. The last, held in October 2024, also saw 7.5 lakh metric tonnes of ore being sold. The auction will be carried out through MSTC (Metal Scrap Trade Corporation), a central public sector undertaking.
The ore will be sold on an ‘as-is-where-is’ basis. It is lying at jetties, former mining leases, or plots, and may include fines, lumps, ROM (run-of-mine, or unprocessed ore), or a mix. The DMG has clarified that it will not take responsibility for the quality or quantity of the cargo. Bidders must inspect the lots at the locations and make their own assessment before bidding.
The winning bidder will be confirmed only after making full payment, including taxes, and will get 90 days to lift the ore.
