Department of Mines & Geology (Govt. of Karnataka) has yesterday (i.e. on 22 Jun’16) issued the addendum in which it has further extended the due dates for bid submission for upcoming mine block auctions in the state.
Karnataka DMG has extended the due date of bid submission. The due date for submission of initial price offer thereafter technical bids which was earlier fixed at 11 Jul’16 has been extended to 10 Aug’16.
As per market participants, there are handful number of takers for the mine block auction because of which the dates are being extended.
Karnataka mine block auction events at a glance-
|
Event Description |
Date |
| Bid due date (Technical+initial price offer) | 10 Aug’16 |
| Opening of technical bids | 11 Aug’16 |
| Announcement of technically qualified bidders | 19 Aug’16 |
| Conduct of ascending forward e-auction & submission of final price offer | 30 Aug’16-09 Sep’16 |
| Announcement of preferred bidder | 30 Aug’16-09 Sep’16 |
| Payment of 1st installment of upfront payment | 19 Sep’16 |
| Issuance of letter of intent by state govt. | 22 Sep’16 |
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