Team Goemkarponn
PANAJI: Goa’s 31st iron ore e-auction last week witnessed robust participation, with almost the entire 7.50 lakh metric tonnes (MT) on offer being sold, generating Rs 136.10 crore for the State treasury.
According to the Directorate of Mines and Geology (DMG), 7.50 lakh MT of iron ore—comprising fines, lumps, run-of-mine ore, and tailings—was listed for bidding on November 13 and 14. Of this, 7.48 lakh MT was successfully purchased by buyers. The material was stored across multiple lease sites, including Dharbandora, Codli, Mayem, Sirigao, Pale, and Vagus.
DMG Director Narayan Gad confirmed the strong turnout at the auction, noting that it was conducted via MSTC, the central PSU responsible for managing e-auctions of metals and minerals. Prominent buyers included Sesa Resources, Chowgule & Company Ltd, Salgaocar Shipping, RKB Global, Venkateshwara Power, and Ascent Ore.
Auction rules stipulate that the purchased ore must be removed from the respective stockyards within 90 days of the DMG’s final award, failing which both the ore and payment will be forfeited.
This round follows the 30th e-auction held in October last year, which also saw complete clearance of the 7.5 lakh MT offered. The series of auctions comes in the wake of the Supreme Court’s August 2024 ruling allowing Goa to sell unaccounted iron ore left abandoned at various sites.
Subsequently, the State Cabinet approved the sale of nearly 2 million MT, with 7.56 lakh MT auctioned in October last year and the latest 7.50 lakh MT offered this month.
