Goa 14th Iron Ore E-auction- Updates

Out of 2.37 MnT iron ore offered in today’s Goa iron ore e-auction, nearly 50% quantity was sold.

DMG, Govt. of Goa had scheduled 14th iron ore e-auction today i.e. 24 Dec’15. 2.37 MnT iron ore was put under hammer in 39 lots. The offered quantity comprised of 2.18 MnT ROM, 0.19 MnT fines and 0.001 MnT lump.

As per sources, 1.17 MnT iron ore was sold. Out of which nearly 84% of the offered material is located at Vedanta’s Codli and Bicholim mines.

Key Highlights of 14th iron ore e-auction

1. 0.19 MnT fines that was offered in today’s e-auction and entire quantity was sold. All the lots fetched flat bids at INR 500/MT except one lot. Lot containing fines (Fe 64%) located at Codli Mines was sold at INR 630/MT against its base prices of INR 500/MT. All the allotted lots are from Codli mines

1. Entire quantity of offered lump (i.e. 1,430 MT) was allotted at base price of INR 500/MT. All sold lots are from Codli mines

1. Nearly 45% of the offered ROM was sold. 0.98 MnT ROM that was sold in today’s e-auction fetched flat bids at INR 500/MT. 80% of the allotted ROM belongs to Codli and Bicholim mines

Link to the tentative result of 14th Goa e-auction