The Goa Government, which had delayed the iron ore e-auction process owing to falling prices in the international market earlier this year, is now gearing up to auction 3.27 million tonnes of ore on August 19.
Prasanna Acharya, Director of Mines, said a partially modified procedure for e-auction enrolment for bidders has been uploaded on the Mines and Geology Department's Website.
Chief Minister Manohar Parrikar recently said the Government is expected to earn ₹400 crore from this auction.
The Government had, through the Metal Scrap Trading Corporation, auctioned 1.67 million tonnes of ore through three e-auctions conducted between February and May under the supervision of a high-level committee set up under the guidelines of the Supreme Court.
The total value realised was ₹331.85 crore.
This time around, the ore has been stacked at 15 jetties at the Mormugao Port and at various iron ore mining sites in the mining belt of the State. The ore belongs to various mining companies such as Sesa Sterlite, VM Salgaoncar, Chowgule & Company, Timblos and Bandekar Brothers, Geetabai Parulekar, Rajaram Bandekar, Hiralal Khodidas, Prime Minerals, Agarwal minerals and others, whose legality is under dispute.
Though mining activity is yet to resume despite the Supreme Court lifting the ban partially, Parrikar has gone on record saying by December, 30 million tonnes of ore would be auctioned, which would rake in ₹1,800 crore and the same would be used to clear bank loan liabilities of those who suffered on account of mining ban and give them relief.
As directed by the Court, the State Government has been holding the money collected through e-auction which will have to be distributed amongst mining workers who were laid off or were not paid salaries since the time mining operations were suspended.
Certain portion will have to be saved in a permanent mining fund for the purpose of sustainable development and inter-generational equity of the mining areas.
Before mining was banned in October 2012, Goa was extracting and exporting nearly 50 million tonnes of ore annually contrary to a cap of 25 million tonnes now suggested by the Supreme Court.