PANAJI
The Directorate of Mines and Geology (DMG) rescheduled the 28th e-auction of extracted ore, to May 16 which was originally planned for May 8.
The auction will be held till May18 during which the department will offer approximately one million tonnes of iron ore for bidding, and the auction will be facilitated by the metal scrap trading corporation (MSTC), as with previous auctions.
The ore being auctioned will be presented on an “as-is-where-is” basis, available at jetties, within former mining leases, or on specific plots.
The ore can be in the form of fines, lumps, or ROM (Run of Mine), or a combination of these.
January 2014 till date, the department successfully sold around 15 million tonnes of ore through 27 e-auctions and generated Rs 1,500 crore approx revenue for the State exchequer.
The department has further specified that ore purchased through the e-auction by end-users must be utilized exclusively for domestic consumption and cannot be resold.
Similarly, the end-users are prohibited from diverting the ore for the purpose of export.
