After a gap of almost five months, the Directorate of Mines and Geology (DMG) has recommenced the iron ore e-auction process, with total 2.1 million tons of ore quantity being offered for auction on Friday.

This is going to be the 19th phase of e-auction, which been done under the supervision of metal scrap trading corporation (MSTC).

As per the information released by DMG, the ore stacked at various mining sites, beneficiary plants, jetties and at Mormugao Port Trust (MPT) is been identified for e-auction at a base price of Rs 500 per tons of ore.

The last e-auction, that is the 18th, was conducted on November 22– two months before State went for polls. During the election period, the e-auction process had came to halt.

The DMG through 18 e-auctions till date has sold nearly 11 million tons of ore, of the total 15.5 million tons identified for the purpose as per Supreme Court directives. However, very limited ore has been transported from the site owing to various issues like transportation.

Revenue of around Rs 1500 crores has been collected.

Apart from e-auction, for the last financial year, 20 million tons fresh ore production was reported, with State earning a royalty of Rs 340 crores.

The iron ore mining season will come to halt on May 31 due to monsoon season.

Team TNV