Timeline for e-auction process revised after huge response from mining, steel Cos

Team Herald

PANJIM: The huge response from mining and steel companies has prompted the Directorate of Mines and Geology (DMG) to revise the timeline for the e-auction process of the four mining blocks. 

As per the new schedule, the names of successful bidders would be announced from December 15 onwards, as against the earlier date of December 13. 

Also, the last date for the purchase of tender document has been extended till November 22 from November 15 while the interested bidders can apply by November 28. Earlier, the last date for bidding was November 21. 

Over 24 mining companies have shown interest in participating in the e-auction. Major steel and iron ore mining companies from outside Goa have shown interest in operating mines in the State, apart from some local traditional mining firms. 

“Considering the huge response, we wanted time to respond to all the queries raised by them. The last date for responding queries was November 3 initially, which we extended to November 9. Accordingly, we had to revise the entire schedule,” a senior official said adding that efforts are made to reply to all the queries and concerns raised by the applicants. 

The companies had raised queries on acquiring of private land outside and inside leases, surface rights, status of dumps, time period for obtaining various permissions, pending litigations, among others. 

The DMG through Metal Scrap Trading Corporation (MSTC) on September 30 invited tender to e-auction four mining blocks — Mulgao, Sirigao-Mayem and Monte-de-Sirigao — all in Bicholim Taluka and Kalay mine in Sanguem.  These mines were previously operated by mining firms namely M/s Narvekar, M/s Rajaram Bandekar, M/s Chowgule & Co Pvt Ltd and Sesa Mining Corporation. 

As per the revised schedule, the names of successful bidders would be declared from December 15 to 21. Following which, the first installment of the bid price will have to be paid to the government within 15 days after which the Letter of Intent will be issued, which will be valid for a period of three years, within which mining lease deed has to be executed. 

“No Mining Lease shall be executed on the expiry of the period of three years from the date of letter of intent and the letter of intent shall be invalidated leading to annulment of the entire auction process,” it added further.