Iron ore samples to be stocked for e-auction in Goa on Monday

PANAJI: The Goa Mines and Geology Department has decided to stock the samples of iron ore that would be e-auctioned on Monday, in which almost half a million of ore is likely to be sold.

Apprehensions had been raised over the first ever online auction.

Assistant Director of Mines Parag Nagarcekar said that the samples were being kept aside "to avoid any disputes in future."

Goa will have the first ever e-auction of the ore piled up at the jetties and mining sites. Almost half a million of ore is likely to be auctioned for the buyers.

The department has checked the samples and it has been revealed that the ore is between 47-56.50 Fe content, he said.

The bidders have already conducted inspection of the ore.

The department officials stated that all the eleven mining companies, including the local firms, would be participating in the e-bidding.

The companies like Sesa Sterlite, Salgaoncar, Chowgule and Fomento are among the five Goan companies that have registered with the Directorate of Mines and Geology for e-auctioning.