PANAJI
The 31st e-auction of the iron ore, scheduled on October 13-14 has been postponed to November, the Directorate of Mines and Geology (DMG) announced. Total 7.5 lakh metric tonnes of ore has been put up for e-auction.
The ore, stacked at various locations will now be auctioned on November 3-4. The DMG is expecting revenue of Rs 100 crore through the auction.
The auction will take place through MSTC (Metal Scrap Trade Corporation, a central public sector undertaking). DMG has said that the last date to undertake inspection of the identified ore is October 10 while by October 31, the list of qualified bidders would be declared.
The ore will be auctioned on an as-is-where-is basis. The cargo is lying on jetties or within the erstwhile mining leases, or on plots. The cargo may be in the form of fines, lumps, ROM (run-of-mine, or ore in an unprocessed state), or a mixture of them.
DMG has said that it is the responsibility of the bidder to visit the location of the cargo and make their own assessment.
The winning bidder will be declared successful by the DMG only upon the receipt of the complete payment of 100 per cent amount including taxes and will be granted 90 days to lift the ore.
