Goa state to e-auction idle iron ore stocks at pitheads on March 24

Wednesday, 17 March 2021 12:23:47 (GMT+3)   |   Kolkata

The government of the western Indian coastal state of Goa will hold e-auction sales on March 24 this year of 1.6 million mt of iron ore lying idle at pitheads of mines across the state, a government official said on Wednesday, March 17.

The official said that an estimated 15 million mt of iron ore had been lying idle at mines which were closed down in 2018 following a Supreme Court order on the grounds that renewals of mining leases of Goa mines were illegal as the mandatory auction route had not been adopted.

Of the total idle iron ore stocks, about 12 million mt have been sold via e-auction since then.

The previous e-auction held by the Goa government had offered 3 million mt, of which only 1.1 million mt was successfully sold owing to the poor response from buyers.

Most Recent Related Articles

India to boost import monitoring systems to check ‘below radar’ shipments

Tata Steel achieves highest-ever crude steel output in Q4 FY 2020-21

Indian coking coal imports down 5.22 percent in FY 2020-21

Fitch: Indian residential construction sector to grow 7.9% in 2021, robust growth until 2030

Indian Road Congress to study alternatives to steel and cement in road construction