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“Based on the Supreme Court directive we have fixed
September 14 as the date to begin the auction. It will continue for a year,” said
Additional Director of Mines and Geology Veeranna.
According to sources, the committee has decided to e-auction around 40,000 MT
of ore a day in the first month and eventually aim to meet the target of
selling 1.5 million MT a month, as directed by the Supreme Court.
MSTC Ltd, which comes under the Ministry of Steel has been
engaged for conducting the e-auctioning, while the committee will deal with
the sale and transportation of the existing stock of iron ore and maintain
account of the sales proceeds.
The Committee is yet to finalise the rates at which the
ore will be e-auctioned. The Committee held a meeting with the mine owners of
Bellary on Tuesday and arrived at an agreement to fix the China/Japan rates,
minus the export duty and the transportation costs to the ports. The domestic
taxes will, however, be in place.
Summary of the process
* 1.5 million MT of iron ore to be sold per month through e-auction portal
www.mstcecommerce.com
* Price of ore will be fixed by NMDC
* Only associated industries that have traded with Karnataka eligible
to participate in the e-auction
* Pelletisation and beneficiation plants may participate provided the ore
purchased and processed is made available to steel and associate industries
* Export of ores will not be permissible
* Physical verification of iron ore will be carried out before e-auction
* e-permit system for issue of transit passes (mineral dispatch permits/trip
sheets) will be followed
* Weigh bridges will be linked with on-line e-permit system
* In the event of violation of the terms and conditions pertaining to
loading, lifting, and transportation, the purchaser will be liable for
penalty, or he can be debarred
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