The government of the western Indian coastal state of Goa has successfully auctioned 748,000 mt of iron ore fines, dumps, run-of-mine ore and tailings lying across idle dumps in the region, a government official said on Wednesday, November 19.
The official said that almost the entire volume of 750,000 mt was successfully bid for by buyers at the auction held on November 13-14.
The volumes were lying idle across leasehold areas including Dharbandora, Codli, Mayem, Sirigao, Pale and Vagus, he said.
Prominent buyers included Sesa Resources, Chowgule & Company Ltd, Salgaocar Shipping, RKB Global, Venkateshwara Power and Ascent Ore.
The auction rules stipulated that the purchased ore must be removed from the respective stockyards within 90 days of the final award, failing which both the ore and payment will be forfeited.
According to the official, this was the 31st auction held in line with a verdict of the Supreme Court which directed the Goa government to sell iron ore left unclaimed at idle dump sites.