Directorate of Mines & Geology (Govt. of Maharastra) has cancelled the “Degve Banda” iron ore block auction which was scheduled to take place in Aug-Sept’16 owing to less participation.
As per the clause in model tender document – “if the total number of technically qualified bidders is less than three, then no technically qualified bidder shall be considered to be qualified bidder and the e-auction process shall be annulled”.
Owing to less than 3 bids received, DMG Maharastra has cancelled all the nine blocks put under auction including 1 of iron ore.
DMG Maharastra had invited bids for grant of one iron ore block namely “Degve Banda” through the electronic auction process to be conducted by MSTC.
The iron ore block is situated in Sindhudurg district of Maharashtra and is at G2 level exploration stage. The block is spread across 78 hectares of mineralized area and is estimated to have total geological reserves of 10.71 MnT with 45% cut off Fe.
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