PANJIM: Fomento Resources on Friday won the bid for Advalpale-Tivim mineral block spread across Bicholim and Bardez taluka.
The company, bidded highest premium of 58.85 per cent of the average sale price of the Indian Bureau of Mines (IBM) during the e-auction conducted by Metal Scrap Trading Corporation (MSTC).
Advalpale-Tivim mineral block is amongst those five blocks which are put up for e-auction in the second phase.
The mining block, with a total mineralised area of 16.77 ha has got around 3.828 million tones of ore and another 4.17 lakh tons of ore in form of dumps.
The block has got around non-mineralised area of 19.44 ha. The block was earlier owned by Lithoferro.
The Cudnem-Cormolem Mineral block, Cudnem Mineral block, Thivim-Pirna Mineral block and Surla-Sonshi mineral block will go for e-auction next week. The entire auction process will be completed before April 27.
