PANAJI: The state government has finally closed the second round of e-auction of five mineral blocks after finalising Vedanta Ltd. as the winning bidder for the Cudnem mineral block VII.
The auction of the Cudnem mineral block VII was conducted on April 26, but the result withheld due to a technical glitch.
The second round of auction of the five mineral blocks commenced on April 21 and ended on April 28. It will earn the state Rs 12.09 crore by way of the first instalment of the upfront fees.
The five mineral blocks sold in the second round have total iron ore reserves of 89.2 million tonnes and valued at around `12,000 crore, according to the DMG.
The state’s first round of sale of four mineral blocks was held in December 2022. The winning bidders were local mining companies – Rajaram Bandekar Mines (Monte de Sirigao block), Vedanta Ltd. (Bicholim block), Salgaonkar Shipping Co. (Sirigao-Mayem block) and Fomento Resources (Kalay mineral block).
The iron ore resources of the four mining blocks have been valued at `43,000 crore by the state government, which is now gearing up for the third round of e-auction of seven mineral blocks.
Goa completed the bidding process for the first round in December last year, involving four blocks, of which three went to the same companies who were operating the leases prior to the shut-down.
Vedanta, NS Bandekar and Fomento all retained their previously-held leases with the only change being in the Sirgao-Mayem block that went from Chowgule and Co. to Salgaocar Shipping.
The state has entered into an MoU with the Mineral Exploration Consultancy Ltd, a public sector enterprise, for geological reports on the auctions.