The Directorate of Mines and Geology (DMG) has once again postponed the auction of 10 iron ore dumps in Goa, extending delays in the state’s efforts to monetise legacy iron ore stockpiles.
The e-auction, which was scheduled to be held this week, has been deferred as the detailed project reports (DPRs) submitted by interested bidders are still under evaluation. According to officials, the scrutiny process is being carried out by The Energy and Resources Institute (TERI), and the auction will be rescheduled only after the review is completed.
The proposed auction covers nearly 22 million tonnes of low-grade iron ore dumps located across various parts of North and South Goa. Industry interest remains strong, with 44 bidders having purchased tender documents for participation in the process.
The auction forms part of Goa’s Dump Handling Policy, 2023, which was introduced to scientifically manage and commercialise iron ore dumps accumulated during earlier mining phases. The policy aims to unlock economic value from these dumps while ensuring compliance with environmental and regulatory norms.
State authorities had earlier estimated that the auction could generate around ₹150 crore in upfront revenue, in addition to royalty and premium payments. As per existing guidelines, the reserve price for the dumps is fixed at 22% of the benchmark price published by the Indian Bureau of Mines (IBM).
This is not the first time the auction process has been delayed. Goa’s iron ore dump auctions have faced repeated postponements in the past due to procedural changes, technical reviews, and regulatory clearances, slowing the pace of mining-related economic activity in the state.
The DMG has indicated that a revised auction schedule will be announced after completion of the DPR evaluation, providing clarity to bidders and stakeholders awaiting progress on the long-pending process.