PANAJI
After cancelling the first e-auction of low-grade iron ore dumps, the State government has revised its dump handling policy with minor changes to continue with the auction process. The State Cabinet approved the revision to the policy, which was first notified in September 2023, at its meeting on Monday.
Speaking to the media after the meeting, Chief Minister Pramod Sawant said the changes relate to iron ore dumps located inside and outside mining lease areas. “The revised policy now includes tailings ” the waste material left after mineral extraction ” under its scope,” he added.
The directorate of mines and geology (DMG) had cancelled the remaining three phases of the e-auction of low-grade iron ore dumps, which were scheduled for January 31 and February 3 and 4, due to a “technical issue”. This was after completing the first day of the e-auction.
A total of 125 bids were received for 18 iron ore dumps, accounting for 5.2 million metric tonnes, which were planned for e-auction in January-February. The dump grade varied between 45 Fe content to 50 Fe content, as per the dump profile study carried out by the agency.
Meanwhile, the Cabinet has given a final extension to the debt relief scheme for mining-affected borrowers of financial institutions until March 31, 2026. This extension will apply only to proposals pending with banks or those rejected on technical grounds.
Since the scheme’s launch in 2012, the financial benefits have been extended more than ten times.
Under the scheme, a subsidy of up to 35 per cent on the total loan settlement amount is given. Banks and financial institutions provide a 100 per cent interest waiver on loans, along with a 40 per cent waiver on the principal amount for truck owners and 30 per cent for barge owners.
