The government of the western Indian state of Goa will commence an e-auction process from May 9 for an offer of 1 million mt of iron ore lying idle at jetties or areas where mining leases have expired, government officials said on Wednesday, April 19.
The iron ore will be sold on a “as is, where is” basis with only end-users or exporters eligible to participate in the auction.
In the case of an end-user being successful in bidding, it will have to compulsorily use the iron ore at its own steel mill and no intermediate sale will be permitted and the entire stock will have to be lifted from the site within 90 days of completion of the auction.
