PANAJI
Odisha-based Agarvanshi Pvt Ltd won the bid for Curpem-Sulcorna mineral block (XI) located in South Goa.
During the e-auction process held on February 14, following directions from the Supreme Court, Agarvanshi won the bid at 95 per cent of the average sale price fixed by the Indian Bureau of Mines (IBM).
The e-auction was conducted through Metal Scrap Trading Corporation (MSTC).
Vedanta Limited had initially emerged as the highest bidder in the e-auction concluded on November 14, last year for the mineral block. However, the DMG decided to resume the auction process after another bidder Agravanshi, claimed to have faced a ‘server error’ during the final bidding period.
Vedanta had challenged the DMG decision in the Bombay High Court at Goa, who ruled in favour of DMG. The mining firm later approached the Supreme Court, that upheld the High Court order.
The Curpem-Sulcorna mineral block is spread at an area of 87.64 ha area of which the mineralised area is 14.00 ha while 73.63 ha is non mineralised. The mine, having an estimated 9.79 million metric tons of iron ore reserve, was earlier owned by M/s Sesa Resources Limited. The block also has 1,56,728 metric tons of ore in the form of dumps.
