PANJIM: The Directorate of Mines and Geology (DMG) has put up about one million tonnes of iron ore for the e-auction from May 9 onwards. This is the 28th e-auction which will take place through metal scrap trading corporation (MSTC).
Since January 2014, the department has so far sold around 15 million tonnes of ore through 27 e-auctions, generating revenue of Rs 1,500 crore.
As per Directorate of Mines, the ore will be auctioned on the as-is-where-is basis that is lying at jetties, within erstwhile mining leases or on plots. The cargo is in the form of fines, lumps or ROM or mixture of them.
The Directorate of Mines has said that the cargo purchased in the e-auction by the end-user must be utilized for domestic consumption only with no intermediate sale. Also the end-user cannot divert the ore for export purpose.
However, the cargo won in the e-auction by the exporter shall be compulsorily exported.
The cargo won in the e-auction by an end-user or an exporter shall be transported from the primary location within 90 days of the declaration of the successful bidder by the directorate. However, this deadline does not include the ‘no transportation’ period from June 7 to September 2, which is the monsoon period.
