The Goa government recently auctioned off four iron ore blocks. As per the latest updates received, Salgaoncar Shipping, has won the Sirigao-Mayem iron ore mineral block in north Goa.
The company emerged as the preferred bidder for Sirigao-Mayem iron ore mine at a premium of 99.25%, market sources said. However, an official confirmation on this remains pending till the time of publishing this report.
The Sirigao-Mayem mineral block is spread across an area of 171.25 hectares. The mine has reserves of 23.584 mnt of iron ore with the average grade being Fe 56.47% as per annual returns.
Moreover, the Monte De Sirigao mineral block is lined up for auction tomorrow for which the floor price set as 88.8%. Eleven companies had placed technical bids for four iron blocks in Goa. The auctions are taking place after years of litigation, and will indicate interest in Goa’s relatively low-grade ore that is primarily been exported over the last 60 years.
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