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2.1 million tonnes of ore up for e-auction today

Panjim: After a gap of almost five months, Directorate of Mines and Geology (DMG) will conduct the 19th phase of iron ore e-auction on Friday, wherein 2.1 million tonnes of ore will be up for auction.Ore stacked at various mining sites, beneficiary plants, jetties and at Mormugao Port Trust (MPT) has been identified for the e-auction at a base price of Rs 500 per tonne of ore. The grade of the ore varies from 40 Fe content to 62 Fe content.The last e-auction was conducted on November 22, wherein 6.9 lakh tonnes of ore were offered for auction. The department received a poor response and only 70,000 tonnes of ore were sold.DMG through 18 e-auctions has sold nearly 11 million tonnes of ore, of the total 15.5 million tonnes identified for the purpose as per Supreme Court directives.Revenue of around Rs 1500 crore has been collected, of which nearly Rs 100 crore have been reimbursed to mining companies, as extraction cost incurred by them and traders, whose ore was e-auctioned. Also another Rs 150 crore has been deposited towards Goa iron ore permanent fund. [H]

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