After a long gap of 5 months, Department of Mines & Geology (DMG), Government of Goa has put up lots for 19th iron ore e-auction. The auction is scheduled on 21 Apr’17.
Total quantity to be auctioned is 2.16 MnT via 75 lots. Out of the total quantity to be auctioned, 1.77 MnT is ROM, 0.24 MnT is fines, 0.15 MnT is lump.
Grade of ROM offered ranges from Fe 40.6-59%. Fines offered ranges from Fe 44.6-63%. Grade of lump offered in the e-auction varies from Fe 46-62%.
Out of 2.16 MnT iron ore that will be put under hammer, 0.34 MnT ROM (Fe 49%) is from Vedanta’s Codli Mine.
Link to the lots offered for 19th e-auction
Last Goa e-auction fetched poor response – The last e-auction was conducted on 22 Nov’16. Out of 2.04 MnT iron ore auctioned, only 0.59 MnT iron ore was sold. DMG had kept base prices unchanged at INR 500/MT for all material type, across all grades.
So far Goa DMG has managed to sell only 10.6 MnT iron ore since e-auction procedure started in the state.
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