Goa to dispose iron ore stockpile via e-auction

In a bid to dispose of its iron ore stockpile, the Goa Government has decided to engage State-owned metal scrap trading firm MSTC Ltd for the e-auction of 3.9 million tonnes (mt) unaccounted and confiscated iron ore.

This would be the first sale of iron ore in Goa since October 2012 after the State Government and the Supreme Court banned mining and the sale of the mineral.

Formal communication

MSTC Chairman and Managing Director SK Tripathi confirmed to Business Line on Friday that the State Government formally conveyed the decision to the company last week.

‘Illegally extracted’ ore

The State Government confiscated 3.9 mt of unclaimed or unrecorded ore stock at different places in the past few months and placed the details before the court, said sources.

This “illegally extracted” iron ore quantity would be put up for e-auction first.

The apex court in October last year had also allowed e-auction of 11.48 mt of ore inventories with clear ownership.

This auction could take place after the initial lot (3.9 mt) was cleared, they added. The State has issued a notification for auctioning 15.39 mt of iron ore.

Sandip Ginodia , Director

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