Panaji: The Directorate of Mines and Geology (DMG) in Goa has completed surveys of 12 low-grade iron ore dumps to identify critical minerals and prevent the loss of valuable rare earth elements.
DMG Director Narayan Gad informed TOI that the survey reports have been submitted to the Geological Survey of India (GSI) for detailed analysis. “We have surveyed 12 dumps that are slated for auction. The reports have been submitted to GSI for analysis to identify critical minerals. We are awaiting the results,” Gad said.
This initiative is part of the National Critical Mineral Mission (NCMM), which aims to boost domestic production and recovery of critical minerals from sources such as overburden, mine tailings, fly ash, red mud, and existing mines.
Second Phase of Auction Underway
Meanwhile, DMG has put 24 low-grade iron ore dumps containing over 41 million tonnes of ore up for auction in the second phase. Around 50 companies have submitted bids, with some bidding for multiple dumps. In the first phase of the e-auction, only one of the five dumps on offer was successfully auctioned.
The second phase covers 24 dumps across Sanguem, Dharbandora, Bicholim, and Sattari talukas, besides one in Sirsaim, Bardez. Most are located in South Goa. While the majority range from 1 lakh tonne to 26 lakh tonne, the largest dump, at Sonus in Sattari, contains about 10 million tonnes of ore.
During the first auction, the largest dump attracted bids, while the four smaller dumps received none.
Reserve Price Set at 22%
The state government has fixed a reserve price of 22% for the auctions. This means that if the Indian Bureau of Mines benchmark price is Rs 100 per tonne, the successful bidder would pay Rs 22 per tonne to the government.
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