Govt cancels 1st auction of ore dumps, to alter procedure
State govt cancelled the first auction of low-grade iron ore dumps as it decided to change the procedure for auctioning the same.
Chief secretary V Candavelou, who is also mines secretary, told
TOI
that state govt would bring minor changes in the dump policy to change the procedure of auction.
After completing the first day of e-auctioning low-grade iron ore dumps, the directorate of mines and geology (DMG) cancelled the remaining three phases of auctions of dumps that were scheduled for Jan 31 and Feb 3 and 4 due to a 'technical issue'. The auctions were subsequently cancelled.
The Supreme Court allowed Goa govt to carry out dump mining activity in the state in accordance with an expert committee's report.
Accordingly, the policy for regulating iron ore dump handling was notified on Sep 14, 2023. The dump handling policy, 2023, paved the way to deal with the 700 million tonnes of low-grade iron ore lying inside and outside mining leases across Goa, and to export 25 million tonnes per annum.
The DMG conducted the first auction for four dumps, and bids were accepted only for three dumps. Due to a technical reason, the auction of one dump did not start.
State govt put 18 low-grade iron ore dumps up for auction.
Goa Foundation said that the DMG should cancel the auctions and re-conduct them after first granting a proper mining lease and obtaining all necessary approvals, as required by the expert committee on dumps and the various provisions of the Mines and Minerals (Development and Regulation) Act.
State govt received 125 bids for the 18 dumps that were put up for auction.
A total of 173 mining companies and traders showed interest in purchasing them. Govt fixed a reserve price of 22% for the first e-auction of low-grade iron ore dumps in the state. If the Indian Bureau of Mines' price is Rs 100 per tonne for low-grade iron ore and the mining companies purchase the ore at auction at the 22% reserve price, the companies must pay Rs 22 per tonne to govt.
Govt also fixed the criteria for traders and mining companies to participate in the e-auction — the bidders should have a minimum net worth of Rs 25 crore.
Govt put up the 18 low-grade iron ore dumps with a total quantity of around 30 million tonnes for auction. Up to 25 million tonnes of ore from dump handling can be exported. Of the 18 dumps, 15 are in South Goa.
A senior official said that the dump handling policy was challenged in court. Recently, state cabinet amended the dump mining policy to allow erstwhile leaseholders to handle the low-grade iron ore dumped by them in another mining lease that was never operated.
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