TEAM HERALD
PANJIM :The sixth phase of e-auction would be held on May 19 wherein a total of one million tons of iron ore would be e-auctioned, bringing in expected revenue of around Rs 150 crore.
Directorate of Mines and Geology in a notification issued has listed one million tons of ore, lying at 58 places for e-auction. The ore belongs to leading mining firms like Chowgule, V M Salgaocar, Fomento, Sesa Goa amongst others.
The grade of the ore varies from 45 to 61 ferrous content. The ore would be sold at a rate of Rs 1500 to Rs 2000 per ton.
DMG had identified total 15 million tons of ore for e-auction, of which by now only five million tons of ore is been auctioned, fetching revenue of Rs 800 crore. Nearly eight lakh tons of ore is also being exported to China, the largest global market for the state’s low grade ore.
