According to a senior official, the government of the Indian state of Goa has initiated the procedure of selling off the rights to mine iron ore in five additional blocks that are situated in the North Goa district.
These blocks will be put up for auction and the successful bidders will be granted the right to extract iron ore from these specific locations.
In an effort to revitalize the iron ore mining industry in the state, the Directorate of Mines and Geology (DMG) of the state conducted an electronic auction for the rights to mine iron ore in four blocks the previous month. The purpose of this action was to clear the path for the resumption of iron ore mining activities in the state, and the successful bidders were granted the right to extract iron ore from these specific locations.
The iron ore mining industry was once a significant source of income for the state, however, it came to a halt in 2018 after the Supreme Court of India annulled 88 mining leases. This was a major blow to the industry and brought all mining activities to a stop. The recent e-auctioning of the four iron ore blocks is seen as a step towards the resumption of mining activities and a way for the state to regain a major source of revenue.
An official from the Directorate of Mines and Geology (DMG) announced on Tuesday that bids have been solicited for the auctioning of five additional iron ore mining blocks in the second phase. These blocks are named Advalpale-Tivim Mineral Block, Cudnem-Cormolem Mineral Block, Cudem Mineral Block, Tivim-Pirna Mineral Block, and Surla-Sonshi Mineral Block. These blocks are located in the North Goa district and the auctioning process is being carried out to pave the way for the resumption of the state’s iron ore mining industry and generate revenue for the state.
The official from the DMG also stated that the deadline for submitting bids for the auctioning of these five iron ore mining blocks is March 27, 2023. The electronic auction for the leases will be conducted through the Metal Scrap Trading Corporation (MSTC). This is an organization that provides e-commerce and e-auctioning services to government organizations, public-sector undertakings, and private-sector companies.
