PANAJI
After a tepid response to its first e-auction of low-grade iron ore dumps, the State government has identified 26 additional dumps totalling 41.9 million tonnes for auction in June.
The initial e-auction held in February saw limited participation from mining companies, with only one of the five identified dumps successfully auctioned.
The Directorate of Mines and Geology (DMG) on Tuesday announced that tender documents for the second phase are now live on the MSTC e-auction portal. “Prospective bidders are requested to register on the portal to participate. The paid tender document for each dump can be purchased for Rs 1 lakh separately,” the DMG stated.
The identified dumps are located across Sanguem, Dharbandora, Sattari/Bicholim and Bardez talukas. The largest deposit estimated at 11.73 million tones is situated at the Sonus/Cudnem site in Sattari/Bicholim.
The e-auction is scheduled to be held from June 15 to 18. The Earnest Money Deposit (EMD) has been fixed at Rs 25 lakh for dumps between 2 and 5 million tonnes, and Rs 35 lakh for those exceeding 5 million tonnes. For smaller dumps, the EMD is Rs 5 lakh (below 1 million tonnes) and Rs 10 lakh (up to 1 million tonnes). Bank guarantees range from Rs 50 lakh to Rs 3 crore for dumps up to 2 million tonnes, with an additional Rs 1 crore required for larger quantities.
During the first phase, Kai International was the sole successful bidder, securing a 14 million tonne dump in Dharbandora with a bid premium of 22.1 per cent—just above the reserve price of 22 per cent.
Under the pricing mechanism, if the benchmark rate set by the Indian Bureau of Mines is Rs 100 per tonne, the successful bidder would pay Rs 22 per tonne to the State at the reserve price.
