PANJIM | Nov 12, 2015: With nearly eight million tonnes of iron ore sold in 13 e-auctions, the Directorate of Mines and Geology (DMG) has paid off Rs 92 crore as extraction costs incurred by mining companies and traders, whose ore was e-auctioned.

The auctioned ore has brought in revenue of over Rs 910 crore. As per the Supreme Court directives, the government has to pay the extraction cost to the mine owners and further contribute 10 per cent of the auction amount to the Goan Iron Ore Permanent Fund.

In September DMG had decided to distribute reimbursements of Rs 250 per tonne of iron ore as extraction costs to the respective lease holders, sister concerns or traders, as per the ownership of the inventoried ore. Sources revealed that DMG has so far distributed Rs 92 crore while another Rs 82 crore would be reimbursed soon.

DMG had identified 15.5 million tonnes of ore for e-auction, of which only 8 million tonnes of ore have been auctioned. Of the total e-auctioned ore, only three million tonnes have been transported from the State, while the balance remains at jetties and lease sites.

Of the total e-auction value, the department has to also reimburse 50 per cent of the wages and dearness allowance to the workers in the muster rolls of the mining leases who have not been paid their wages during the period of suspension of mining operations. Also, 50 per cent of the claim, towards storage charges of Mormugao Port Trust (MPT), have to be released.

(Source: http://www.heraldgoa.in/)