PANAJI
Almost 99 per cent of the total 7.50 lakh metric tonnes of iron ore got sold during the 31st e-auction held last week, generating a whopping Rs 136.10 crore of revenue to the State treasury.
According to the Directorate of Mines and Geology (DMG), a total of 7.50 lakh MT was listed for bidding on November 13 and 14, out of which 7.48 lakh MT was purchased.
The material, comprising fines, lumps, run-of-mine ore and tailings, was stored across several lease sites including Dharbandora, Codli, Mayem, Sirigao, Pale and Vagus.
Director of Mines Narayan Gad confirmed that the auction drew a strong turnout, resulting in sales worth Rs 136 crore. The auction was conducted via MSTC, the Central PSU that manages metal and mineral e-auctions. Major buyers included Sesa Resources, Chowgule & Company Ltd, Salgaocar Shipping, RKB Global, Venkateshwara Power, Ascent Ore, among others.
As per the auction terms, bidders must remove the purchased ore from its respective stockyard within 90 days of the DMG’s final award. Failure to do so will lead to forfeiture of both the ore and the payment made.
The previous e-auction -- the 30th round held in October last year -- had also witnessed complete clearance of the 7.5 lakh MT offered.
This series of auctions follows the Supreme Court’s August 2024 ruling permitting Goa to dispose of unaccounted iron ore abandoned at various sites. The State Cabinet subsequently authorised the auction of nearly 2 million MT. Of this, 7.56 lakh MT was put up in October last year, while another 7.50 lakh MT was offered in the latest auction.
