PANAJI
The e-auction of 0.75 million tonnes of iron ore, which was scheduled for September 30, will now be conducted on October 3.
The Directorate of Mines and Geology (DMG) has informed that the e-auction process stands postponed and that the auction of ore will take place on October 3. Also, the last date for uploading the application is extended to October 1.
This is the 30th e-auction and will take place through MSTC (Metal Scrap Trade Corporation, a central public sector undertaking).
The ore will be auctioned on an as-is-where-is basis. The cargo is lying on jetties or within the erstwhile mining leases, or on plots. The cargo may be in the form of fines, lumps, ROM (run-of-mine, or ore in an unprocessed state), or a mixture of them.
DMG has said that it will not take responsibility for the quantity and quality of cargo of any lot or any stack within the lot. It shall be the responsibility of the bidder to visit the location of the cargo and make their own assessment.
The winning bidder will be declared successful by the DMG only upon the receipt of the complete payment of 100 per cent amount including taxes.
The successful bidder has to lift the cargo from the primary location within 90 days of the declaration of the winning bidder by the DMG failing which, both the cargo and the entire amount paid to the DMG stand forfeited.
