Goa DMG Eases Iron Ore E-auction Enrollment Process

Goa iron ore exporters may be benefited with the modified procedure which will further boost low grade iron ore exports from the state.

Goa DMG, today (22 Apr’16) has issued notification on modifying the e-auction enrollment procedures. The EMD payable for the enrollment procedure has been reduced.

Now the EMD payable for the enrollment shall be to the tune of INR 1 lakh for bidding upto 5,000 MT and in multiples of INR 1 lakh for every additional quantity of 5,000 MT. Earlier EMD payable was to the extent of INR 5 lakh for bidding upto 1,000 MT and in multiples of INR 5 lakh for every additional quantity of 1,000 MT.

Similarly for unlimited bidding it is now to the tune of INR 50 lakh which was earlier INR 10 crores.

Link to the notification

Goan exporters to be benefited-

Easing enrollment procedures may attract more bidders in the upcoming e-auction. It was learned that Goa DMG will soon conduct the e-auction of around 2 MnT ore, majority of which comprises of low grade and is meant for exports to China.

Goan iron ore exports are gaining momentum amid Increasing global prices. In this week, seaborne iron ore prices in China have gained strength by USD 11/MT W-o-W. Prices for fines (Fe 57%) of Indian origin are assessed at USD 48/MT, FoB India.