24 mining companies most likely to take part in public auction of four iron ore blocks in Goa

The auction of 4 iron ore blocks, the process of which has been started by government of the western Indian state of Goa, is most likely to see the involvement of 24 mining companies, federal government authorities stated on Thursday, November 3. They said that 24 business joined the pre-bid seminar held by the auctioneer representing the Goa federal government, state-run MSTC Limited, some which had already acquired tender documents.The last date for acquisition of tender papers is November 15 as well as the last day for entry of proposals is November 21. Based on the tender file, the names of successful prospective buyers will be declared in between December 13 and also December 21. Adhering to which the initial instalment of the proposal rate will certainly have to be paid to the government within 15 days after which the letter of intent will be issued.This letter of intent will be legitimate for a period of three years from the date of its issuance, within which time all the conditions should be fulfilled as well as the mining lease deed need to be executed between the bidder as well as the federal government of Goa.The 4 iron ore blocks place up for auction are Bicholim, Sirigao-Mayem, Monte de Sirigao and also Kalay. All the 4 mines were functional until the Supreme Court stopped mining in Goa. The estimated iron ore reserves at the 3 north Goa mines were 9 million mt, 23 million mt and 85 million mt, while the block in the south has actually approximated books of 20 million mt.

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