Department of Mines & Geology (DMG), Goa Government, has released tentative lots for its 8th e-auction, through which 4.7 MnT iron ore would be put under the hammer.
Goa Mines & Geology Department has put 4.7 MnT of iron ore for sale in its 8th e-auction. The material would be offered through 229 tentative lots. The offer comprises of 1.99 MnT ROM, 1.56 MnT lump, 1.1 MnT fines and 0.02 MnT fines/lump.
The last e-auction held on 04 Aug’15 received extremely poor response owing to high base price. Merely 2 lots amounting to a total of 55,453 MT iron ore out of offered quantity of 1 MnT was sold to a domestic bidder.
So far 5.85 MnT iron ore has been sold via 7 e-auctions. Taking into account the amount of the material in the 8th e-auction (i.e 4.7 MnT), Govt. of Goa will be left with 4.55 MnT iron ore to be auctioned.
It seems that Goa government is expediting the process of iron ore mining in the state. Yesterday, Vedanta Ltd. resumed its iron ore mining operations at Codli mines in Goa. Fresh mining in Goa is likely to begin post monsoon in Oct’15. The 57 mining leases, which have received consent from GSPCB (Goa State Pollution Control Board), should be able to commence operations during Oct’15, after the monsoon.
Link to the tentative lots for 8th Goa E-auction
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