Daijiworld Media Network- Panaji

Panaji, Mar 8: The Goa government has decided to impose a 22% premium on the Indian Bureau of Mines (IBM) price for erstwhile mining leaseholders who are permitted to handle iron ore dumps outside the lease area. The decision was taken during a cabinet meeting on Friday, considering the conversion fees and fines already paid by the leaseholders.

As per the state’s dump-handling policy, former leaseholders can remove inventoried dumps situated on private properties outside the lease area, provided they have cleared all conversion fees and fines under Section 33 (1A) of the Goa Land Revenue Code. The removal of these dumps must be completed within five years from the policy’s publication, subject to royalty payment and adherence to statutory regulations.

The government has introduced an e-auction mechanism for dump handling, incorporating the concept of a ‘premium’ and ‘reserve price.’ The reserve price has been set at 22% of the average sale price (ASP), with bidding starting from this percentage. The highest bidder will be required to pay the quoted percentage on ASP as a premium at the time of ore sale.

The state cabinet also approved amendments to the dump mining policy, allowing former leaseholders to handle low-grade iron ore dumps located within other mining leases that were never operational. The government received 125 bids for 18 low-grade iron ore dumps put up for auction, signaling strong industry interest in the policy.