Only 70% sold of total idle iron ore stocks up for auction in Goa

Friday, 09 April 2021 11:52:40 (GMT+3)   |   Kolkata
       

The government of the western Indian coastal state of Goa has been able to secure buyers for only 70 percent or 1 million mt of the total 1.6 million mt of idle stocks put up for auction on March 24, a government official said on Friday, April 9.

The official said that about 600,000 mt of idle iron ore stocks lying idle at pitheads and port stockyards did not attract any interest from buyers, largely owing to it being of very low grade.

According to the official, another estimated 1 million mt of iron ore is still lying at stockyards across the region, but no date has yet been fixed for a further auction sale.


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