Team Goemkarponn
PANAJI: The Directorate of Mines and Geology’s (DMG) second e-auction of low-grade iron ore dumps has witnessed a stronger response from the mining industry, with six dumps being successfully auctioned, a marked improvement over the first round held earlier this year.
The auction, conducted on July 8, covered iron ore dumps located in Sanguem, Dharbandora and Bardez talukas. The highest bid premium of 51 per cent was offered for Dump-4 at Costi in Sanguem, with Sarus Infrastructure Pvt. Ltd. emerging as the successful bidder.
Sarus Infrastructure also secured Dump-3 at Costi after quoting a premium of 24.40 per cent.
Silvermist Retail Pvt. Ltd. won Dump-6 at Codli in Sanguem with a premium bid of 42.10 per cent.
Kai International added two more dumps to its portfolio, winning Dump-13 at Shigao-Collem in Dharbandora with a premium of 22.10 per cent and Dump-24 at Curpem in Sanguem with a bid of 22.40 per cent.
In Bardez, Satish Sugars Ltd. emerged as the successful bidder for Dump-16 at Sircaim after quoting a premium of 25 per cent.
The second phase of the auction includes nearly 26 low-grade ore dumps with an estimated combined quantity of about 41.9 million tonnes.
The outcome contrasts with the inaugural e-auction held in February, which saw limited participation. During that round, Kai International was the only successful bidder, securing a 14-million-tonne dump in Dharbandora by offering a premium of 22.1 per cent, marginally above the reserve premium of 22 per cent.
Mining department officials expect the improved response in the latest auction to support the disposal of legacy low-grade ore dumps while generating additional revenue for the State.
