TEAM HERALD
PANJIM: State government has postponed the scheduled September 2, fifth phase of e-auction, when approximately 2.18 million tons of ore was to be auctioned, fearing lack of response due to weakening of international prices.
Government has so far earned Rs 620 crores through e-auction of five million tonnes of ore, since February this year. Around 15 million tonnes of ore is lying at various places from which government is expecting to generate over Rs 1500 crore by December end.
A senior mines department official said that the international prices of Indian ore have dropped by nearly 40 per cent, and so local traders and exporters were not expected to respond and bid at the e-auction. “Also high local tariffs have made export unviable,” the official added.
Chief Minister Manohar Parrikar was on record having stated that with the fall in international prices of ore, government is finding it difficult to fetch good value for the ore.
The official said that e-auction could be revived once the market conditions improve and the government is confident of a positive response from local traders and exporters.
