Team Goemkarponn
PANAJI: During an online auction on Thursday, nearly all 7.5 lakh metric tonnes of iron ore were sold, bringing in more than Rs 100 crore in revenue.
For the 30th e-auction, the Directorate of Mines and Geology (DMG) has submitted 7.56 lakh metric tonnes of ore. The ore was found as tailings, fines, lumps, and run-of-mine material.
Director of Mines Narayan Gad reported that 7.5 lakh metric tonnes of ore were sold out in the e-auction, indicating a remarkable response. The Metal Scrap Trade Corporation, a key public sector entity, conducted the e-auction.
The winning bidder is now required to remove the cargo from the principal location within ninety days of the DMG announcing the winner; else, the cargo and the whole amount paid to the DMG would be forfeited.
The Supreme Court granted Goa permission to auction iron ore in August that had been left behind in various areas and hadn’t been previously inventoried. The State Cabinet then approved the e-auction of around 2 million metric tonnes of ore, of which 7.56 lakh metric tonnes were offered for sale on October 3.
Previously, the government has sold over 15 million metric tons of ore in 29 auctions since 2014, bringing in about Rs 1500 crore.
