Govt. of Goa today released base prices for 10th iron ore e-auction to be held tomorrow (15 Sep’15).
Department of Mines & Geology (DMG), Goa has released the base prices for its 10th iron ore e-auction which is to be conducted tomorrow i.e 15 Sept’15. 1.2 MnT iron ore would be offered through 59 proposed lots. The offer comprises of 1.12 MnT ROM, 0.1 MnT is fines and 0.02 MnT lump.
Not much change in base price was observed for tomorrow’s e-auction. For instance, base price for fines (Fe 61%) located at Surla Jetty is INR 860/MT which was INR 850/MT in 8th e-auction. Similarly, ROM (Fe 46%) located at Vagus jetty has been base priced at INR 500/MT similar to what it was in 9th e-auction. Lump (Fe 58%) located at Sanvordem jetty is at base price of INR 750/MT.
Link to the Base Price for Goa 10th Iron Ore E-auction
By far, 6.1 MnT iron ore has been sold through 9 e-auctions conducted by Goa DMG. Thus, out of 15.1 MnT iron ore mined prior to the ban imposed in state, around 9 MnT of the raw material is yet to be sold.
Earlier this month, it was reported that Goa DMG is planning to offer 7 MnT iron ore by Sept’15 with a motive to clear the already mined iron ore lying at mines, jetties & stockyards, before fresh mining begins in Oct’15. However, looking at the reduced interest in participation from bidders, it looks difficult for Goa DMG to sell the balance quantity in a month’s time.
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