3rd e-auction of Iron Ore in Goa

3rd e-auction of Iron Ore in Goa www.ambitionias.com
  • 6 lakh  tonnes of iron ore being auctioned this month which is lying at jetties and the Mormugao Port Trust (MPT)
  • MSTC Ltd., has auctioned 1.62 million tonnes of iron ore through two e-auctions in February and March, realising around Rs.260 crore, which would go to the State treasury.
  • E-aution will be held under Supreme Court’s (SC) supervision and has to ship the iron ore before the monsoon arrives.
  • SC has permitted the Goa Mines Department to auction about 15 million tonnes of iron ore but putting a cap of 20 million tonnes for annual production.
  • Renewal of all the deemed mining leases in the State had expired on November, 2007 post that all the mining is termed as illegal.
  • The government is taking care of the money collected and the court has directed the State to pay 50 %  of wages of all the workers who were laid off or were not paid salaries since the time the mining operations were suspended.
  • Read at:  http://www.thehindu.com/todays-paper/tp-business/goa-to-eauction-iron-ore-on-may-12/article5980497.ece

Exams Perspective:

  1. SC
  2. E-Auction
  3. Illegal Mining in India
  4. Recommendation of SC appointed Empowered Committee on Mining