In November 2013, maintaining the ban on mining, the Supreme Court had allowed to e-auction the already extracted 15 MnT Iron ore lying at Jetty & Stock point in the state.
Following the permission, the state government invited application from prospective bidders on 14 Jan, 2014 to participate; only qualifying bidders can participate in the e-auction.
Sources told SteelMint that just over half a million tonnes i.e. about 5,70,000 MT of Iron ore out of 15 MnT would be auctioned on 17 Feb, 2014 in the first phase. Transportation of the ore would begin within 30 days of the auction.
The ore includes fines as well as lumps. Grade of the material varies from Fe 47% to Fe 56/50%. The ore belongs mainly to Sesa Mining and Sesa Sterlite, VM Salhgaocar, Timblo Enterprises, SFI, Chowgule and MSPL.
The e-auction would be held once in a week under supervision of three (03) members’ monitoring committee appointed by the Apex Court.
Iron ore purchased from e-auction could be utilized for sale, domestic consumption or can be exported. Most of the material might be exported as they are of low grade.
A ban on mining was imposed in Goa in September, 2012 amid environmental grounds. Prior to the ban, the state was India’s largest Iron ore exporter.
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