E-auction of iron ore dumps pushed forwardto May 16

Panaji: The state government has postponed the e-auction of the one million tonne iron ore lying at jetties and plots. The three-day e-auction will commence on May 16.
Earlier, the e-auction was scheduled to commence on May 9. This is the 28th e-auction and will take place on the MSTC Ltd platform, earlier called the Metal Scrap Trade Corporation, a central public sector undertaking.
The iron ore will be auctioned on an ‘as-is-where-is’ basis.
The cargo is lying at jetties, within erstwhile mining leases, or on plots. It may be in the form of fines, lumps, ROM (run-of-mine, or ore in an unprocessed state), or a mixture of all of these.
“Only an end-user or an exporter is eligible to participate in the e-auction,” the directorate of mines and geology said. “The cargo purchased in the e-auction by the end-user must be utilised for domestic consumption only. No intermediate sale is permitted.”
The directorate also said that the cargo won in the e-auction by the exporter must be compulsorily exported.
The cargo won in the e-auctions by an end-user or an exporter shall be trans-ported from the primary location within 90 days of the directorate declaring the successful bidder.