The second round of e-auction of Iron ore will be held on 5 Mar, 2014 after the successful conduct of the first e-auction. In the 2nd e-auction, around 1.5 MnT ore will be offered.
Goa’s Directorate of Mines & Geology (DMG) that holds a weekly auction to sell 15 MnT Iron ore, lying idle in jetties and ports across the state since the Supreme Court banned Iron ore mining & exports in September 2012, will conduct 2nd e-auction of around 1.5 MnT ore (1.3 MnT Iron fines and 0.2 MnT Iron Lumps).
Tentative Iron Ore Offered in 2nd E-auction as on 5 Mar, 2014
| Seller | Fines | Lumps | Qty Offered |
| Pratham | 363,288 | 25,753 | 389,041 |
| Minescape | 250,353 | 48,011 | 298,364 |
| Salgaocar | 151,785 | – | 151,785 |
| Sesa | 124,005 | – | 124,005 |
| Mineria | 707 | 110,800 | 111,507 |
| Bandodkar | 99,737 | – | 99,737 |
| Fometo | 87,705 | 5,277 | 92,982 |
| EMCO | 68,584 | 11,080 | 79,664 |
| Shantilal | 33,387 | 35,000 | 68,387 |
| PTI | 43,000 | 14,000 | 57,000 |
| Pisces | 52,000 | – | 52,000 |
| MSPL | 25,000 | 5,000 | 30,000 |
| Total | 1,299,551 | 254,921 | 1,554,472 |
All prices in INR/MT; Qty in MT
Results of 1st Goa E-auction held on 17 Feb, 2014 by DMG
Goa’s first ever e-auction received overwhelming response from Indian exporters. Out of 5,36,000 MT ore being put on auction, had received bids for over 5,35,000 MT. Market is expecting steel mills to participate in 2nd e-auction, which were seen missing in the first auction.
| Bidder Name |
Total Quantity (MT) |
Cargo Type |
Alloted Quantity (MT) |
W. A Grade |
W.A Bid Price |
W.A Base Price |
|
| Radiant (Royal Liners) |
238,530 |
Fines |
219,366 |
51.3 |
1,611 |
1,010 |
|
|
Lumps |
19,164 |
54.3 |
2,102 |
1,665 |
|||
| Sesa Goa |
68,141 |
Fines |
60,487 |
52.8 |
1,525 |
1,177 |
|
|
Lumps |
7,654 |
54.9 |
1,696 |
1,475 |
|||
| Bagadiya Brothers |
67,836 |
Fines |
44,779 |
54.6 |
1,803 |
1,512 |
|
|
Lumps |
23,057 |
54.1 |
1,815 |
1,485 |
|||
| Shree Durga Mining |
54,331 |
Fines |
54,331 |
54.4 |
2,045 |
1,431 |
|
|
Lumps |
– |
– |
– |
– |
|||
| Fermento |
50,000 |
Fines |
50,000 |
56.6 |
2,164 |
1,832 |
|
|
Lumps |
– |
– |
– |
– |
|||
| Agrawal Minerals |
30,000 |
Fines |
30,000 |
54.4 |
1,817 |
1,390 |
|
|
Lumps |
– |
– |
– |
– |
|||
| Kineeta Global |
20,000 |
Fines |
20,000 |
53.0 |
1,620 |
1,205 |
|
|
Lumps |
– |
– |
– |
– |
|||
| Sundar Industries |
6,531 |
Fines |
6,531 |
54.7 |
1,619 |
1,441 |
|
|
Lumps |
– |
– |
– |
– |
All prices in INR/MT; W.A – Weighted Average
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