Economy | Mining
No takers for e-auction may hit Goa's mining start-up
PTI, NEW DELHI | 13 September 2015 21:42 IST
The ongoing iron ore auction in Goa is struggling to find takers due to the subdued global economic sentiment as well as weakness in prices, something which is expected to impact mining of the ore in the state.
According to industry sources, of the total of 3.5 MT of iron ore under the hammer in the past three auctions (7, 8 and 9), only 0.77 MT, or 22 per cent, was sold.
Iron ore mining in Goa will commence next month after a gap of three years, with mining conglomerate Vedanta set to start operations at its Codli and Bicholim mines.
