PANJIM | April 24, 2017: The iron ore e-auction continues to receive poor response from the bidders, as the 19th phase of auction held on Friday saw only 1.8 lakh tonnes of ore getting sold of the total 2.2 million identified for the purpose.

Directorate of Mines and Geology (DMG) earned Rs 11.48 crore from the e-auction. The base price fixed for the e-auction was Rs 500 per tonnes of ore.

Total 15 lots were identified for e-auction of which only one lot got sold, which is 1.8 lakh tonnes. Interestingly, of the total 11 buyers approved by the department only two bidders participated while only one bidder bided for the ore.

The last e-auction, that is the 18th, was conducted on November 22, wherein total 6.9 lakh tonnes of ore was offered for auction. It remained very poor response with only 70,000 tonnes of ore getting sold.

The DMG through 18 e-auctions conducted last 2 years, has sold nearly 11.1 million tonnes of ore, of the total 15.5 million tonnes.

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