E-auction to see bidding on 15.58 mn tons of iron ore in Goa

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Panaji, Feb 27: The second e-auction of iron ore, scheduled on March 5, in Goa will have over 15 million tons of ore being put up for grabs, which is triple the amount compared to the previous one, officials said today.

"This e-auction will have 15.58 million tons of ore put up for bidding," Parag Nagarcekar, Deputy director, State mines and geology department told PTI.

About five lakh million tons of iron ore lying at the jetties went under the hammer in the first e-auction on February 18, which saw seven companies participating in it, fetching the state Rs 94 crore. This time, State Mines and Geology department has empanelled 12 companies who are eligible to participate in the e-auctioning process, which is strictly monitored by a Supreme Court appointed committee.

Nagarcekar said the base price for the ore would be decided a day before the bidding process starts. Metal Scrap Corporation, a central public sector unit, has been holding the bidding. The state which is currently under a mining ban since September 2012 has around 15 million tons of ore lying at various spots including jetties, mining leases and stockyards, which is auction-able.

The money collected from the auctioning would be parked in a bank account and would be disbursed to the ore owner after Supreme Court lifts the ban.

PTI

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