As per the media reports, the Government of Goa may allow to conduct an e-auction for the low-grade iron ore lying across the state. This move of govt. assume as the first step towards resumption of the mining industry in Goa.
Iron ore mining in Goa is the key source of revenue for the government. Government takes it as a priority as the closure of the industry has been affecting the livelihood of thousands of people across the state.
As per the reports, once the process of e-auction starts, the government will formulate a Mining Dump Policy by July this year.
Earlier last year, Supreme Court on (7th Feb’18) in its verdict canceled the second renewal of lease granted by the state government in Goa and operations from 15th Mar’18. The Honorable court in its further direction, setting up of an SIT comprising chartered accountants for the recovery of the amount from mining companies which were allowed to extract ores in violation of the law. The court also directed for fresh leases will be issued only after obtaining an environment clearance. Court has given its judgment while hearing a case filed by NGO Goa Foundation.
SteelMint has learned from the Goa sources that, total 5.18 MnT sub-grade iron ore lying across the state which has remained unsold from the e-auctions conducted till 2017. As per the sources these are old stock lying for sub-grade fines (between Fe 35-55%). However further details on to determine iron ore prices etc are yet to be announced.
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