PANAJI
Almost the entire quantity of 7.5 lakh metric tonnes of iron ore got sold during an e-auction held on Thursday, generating revenue to the tune of over Rs 100 crore.
The Directorate of Mines and Geology (DMG) had put up 7.56 lakh metric tonnes of ore for the 30th e-auction. The ore was in the form of fines, lumps, run-of-mine and tailings.
Director Mines Narayan Gad informed that the e-auction received impressive response with 7.5 lakh metric tonnes of ore getting sold out.
The e-auction took place through MSTC (Metal Scrap Trade Corporation, a central public sector undertaking).
The successful bidder has to now lift the cargo from the primary location within 90 days of the declaration of the winning bidder by the DMG failing which, both the cargo and the entire amount paid to the DMG stand forfeited.
In August, the Supreme Court had allowed Goa to auction iron ore, abandoned at different locations and which was not inventoried earlier. Following which, the State Cabinet gave nod to e-auction around 2 million metric tonnes of ore, of which 7.56 lakh metric tonnes was put up for auction on October 3.
Earlier, in 29 auctions held since 2014, government sold almost 15 million metric tonnes of ore that got government around Rs 1500 crore revenue.
