HomeCITY NEWS36.9% of the ore lying at jetties and plots being sold

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36.9% of the ore lying at jetties and plots being sold

Goa : Of the three million tonne of iron ore put up for e-auction on Tuesday, only 1.1 million tonne was purchased. With only 36.9% of the ore lying at jetties and plots being sold, the revenue will not be as per the state’s expectation.With the state’s revenue collection dipping to 40%, and the government continuing to borrow money from the market, this auction was aimed at generating a substantial amount of much-needed revenue for the state.Thirteen mining companies participated in the e-auction. The government had announced the e-auction of the iron ore lying at jetties and plots at Pale, Rivona, Sirigao, Kotambi, Vagus, Sulcorna, Maina and Tollem.

The last one, held in May, received a poor response largely because no mining company wanted to invest in the ore during the monsoon.In 2012, a Supreme Court judgment had declared mining after 2007 illegal. Ore lying at jetties and plots was subsequently declared state property. The government then identified 15 million tonne of ore lying at jetties and plots, of which around 12 million tonne has already been e-auctioned.

The News24 Goa

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