PANAJI
The Directorate of Mines and Geology (DMG) has yet again postponed the 31st e-auction of the iron ore, which was scheduled in the first week of November. Total 7.5 lakh metric tons of ore has been put up for e-auction.
The e-auction, which was initially scheduled on October 13-14, was postponed to November 3-4. However, the department has now announced a new date for the e-auction and it will now be held on November 13-14.
The ore is stacked at various locations including leases, outside leases, jetties, plants, etc. 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).
The DMG will announce the list of qualified bidders on November 12.
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.
