53 bids for 6 mineral blocks to be auctioned on April 16

Panaji: Govt has received 53 bids for six mineral blocks that have been put up by the directorate of mines and geology (DMG) for auction on April 16. Vedanta, JSW, and Fomento have filed their bids for all six blocks.Govt hopes to rake in Rs 230 crore as upfront payment through the auction.Five blocks are iron ore mines located in North Goa, with the remaining block known for iron ore and manganese ore deposits in South Goa. In North Goa, two blocks are at Cudnem, two at Pissurlem, and one at Advalpal-Moitem. In South Goa, the Cavorem–Maina mineral block will be e-auctioned.These blocks have a reserve of around 170 million tonnes.

The six blocks being put up for auction indicate that state govt has now exhausted 90% of its fresh iron ore extraction capacity. Govt so far auctioned 12 mineral blocks through which up to 12.5 million tonnes of fresh iron ore will be able to be extracted per year, and with six more blocks up for auction, it will exhaust an additional capacity of 6.5 million tonnes. State govt can extract around 20 million tonnes of fresh iron ore per year.

“We auctioned 12 mineral blocks and, as per the environmental clearance (EC), mining companies can handle around 12.5 million tonnes per year. The six mineral blocks that were put up for auction will be given permission to extract another 6.5 million tonnes,” director of mines and geology, Narayan Gad, told TOI.He said state govt could auction a few more blocks as it has pending capacity of another two million tonnes.