Goa looks to earn Rs 1500-cr via e-auctioning of extracted ore

The SC approved setting up of a monitoring committee which will verify the quantities of ore extracted

The Goa government is expecting to earn revenue to a tune of Rs 1,500 crore from e-auctioning of extracted iron ore, which is lying at various jetties and mining sites across the state due to the mining ban.

The Supreme Court, in an interim order issued yesterday had approved setting up of a monitoring committee which will verify the quantities of ore extracted by mining companies before the mining ban and lying on leases and jetties in the form of stacks presently.

The court had ordered that the stock be e-auctioned and the money be deposited in a bank account where its disbursement to the ore owner would be done after the final order on the petition in connection with the illegal mining in Goa.

Parrikar told reporters last evening that nearly 11.48 million tonnes of extracted ore is lying unused at various jetties, which can be e-auctioned as per the apex court order.

The state will also e-auction, 1.22 metric tonnes of confiscated ore which was lying unaccounted outside several lease areas.

Also, there is additional 2.68 MT of ore which is unaccounted and apparently owned by several traders at various places, which also can be e-auctioned.

Taking all the ore in account, Parrikar said the state will have nearly 15.3 MT of ore ready for e-auction which will generate total revenue of Rs 10,000 crore.

"But excluding the royalty and other taxes to be paid to the Centre, the state will be able to earn Rs 1500 crore," the Chief Minister added.

The auctioning process may start within next one month, he said.

Parrikar said that the interim order has come as a major relief for people dependent on mining, who can now start their economic activity after a gap of more than a year.