Goa's Iron Ore E-Auction: A New Revenue Stream

The Goa government has approved a new policy to e-auction unclaimed iron ore dumps on private lands. This initiative is expected to generate up to Rs 500 crore in revenue. The move comes after mining in the state had been halted since 2012 due to a Supreme Court order.

The Goa government has taken a significant step towards boosting its revenue by approving a new policy that enables the e-auction of unclaimed iron ore heaps located on private lands. This development was confirmed by Chief Minister Pramod Sawant during a media briefing on Thursday.

The state's cabinet has sanctioned the Goa Iron Ore Mining Dump Handling Policy, 2023, which permits the e-auctioning of ore dumps that have been left untouched since the Supreme Court halted mining operations in 2012. An estimated revenue of Rs 400-500 crore is anticipated from auctioning 30-40 identified dumps.

Chief Minister Sawant highlighted that the e-auctioning process is set to commence within the next 15 days. The state government will also provide a lease payment to landowners post-auction, although the exact fee is yet to be determined.

(With inputs from agencies.)