India: Govt of Goa notifies lots 24th iron ore auction, offers 3 mn t low grade ore

Directorate of Mines & Geology (DMG) of Goa has announced e-auction for 3 mn t iron ore on 10th Nov’20. DMG has notified lots for upcoming e-auctions which would be the 24th auction to be conducted. Below are details of the e-auction:-

–Quantity put under hammer is of low-grade with the highest grade (as per DMG analysis) reaching Fe 58%.

–Out of the total offered quantity, 2.4 mn t is ROM (Fe 27.6-57.74%), 0.6 MnT is fines ( Fe content 18.6-58%) and 0.06 MnT is lump (Fe 38.94-53.8%).

Supplier-wise details
Out of the total material put to auction, about 28% material is from Bandekar Brother Pvt Ltd at 0.85 MnT, followed by Kunda R Gharse at 0.63 MnT and Sociadade TimbloIrmaos Ltda (Pti) at 0.18 mn t. Other major suppliers include Soc.Timblo Irmaos Ltda (Pti), Shri Zacarias Antao (Late) and V.G. Quenim (Late).

Link to pdf

Recent updates:

• Goan miners have been granted an extension until the end of January 2021 to dispatch material mined before 16 March 2019, when mining came to halt in the state. Previously, the government of Goa has directed the transportation of the minerals in the state to be completed by 31st July’20.
• The state government of Goa has announced increase in the iron ore transportation rates by INR 2/t. The revised rates stand at INR 14.50/t for first 10 kms, INR 14/t for 10-20 kms and INR 13.5/t beyond 20 kms. The government of Goa has directed the transportation of the minerals, nearly 4 mn t lying in the state to be completed by 31st Jul’20.
• The 23rd iron ore e-auction held on 27 May’20, quantity offered was about 2.49 mn t, but the auction received bids for only 7% (i.e 0.17 mn t) of total offered quantity and the remaining 2.32 mn t was unsold.