Auction Details
Opening Date   &  Time 19-05-2015::09:00:00
Closing Date & Time Scheduled Time   
Closed At   
Inspection From Date 15-05-2015
Inspection Closing Date 18-05-2015


Seller Details
Location PANAJI
Street M.G.Road
City PANAJI-403001
Country INDIA
Telephone 9422388201
Contact Person Parag Nagorsekar


IRON ORE STACKS, TYPE:FINES, GRADE(%):57,STACK NO.:F1 B, T.C.No.:5/49 & 13/49, LEASEHOLDER/INTERESTED PARTY: Chowgule & Company Pvt Ltd/Government of Goa 13230.0 MT 1.00 As Applicable /0.0 SIRIGAO PLANT State :Goa
IRON ORE STACKS, TYPE:FINES, GRADE(%):58,STACK NO.:F2, T.C.No.:5/49 & 13/49, LEASEHOLDER/INTERESTED PARTY: Chowgule & Company Pvt Ltd/Government of Goa 24290.0 MT 1.00 As Applicable /0.0 SIRIGAO PLANT State :Goa
IRON ORE STACKS, TYPE:LUMPS, GRADE(%):53,STACK NO.:L1, T.C.No.:5/49 & 13/49, LEASEHOLDER/INTERESTED PARTY: Chowgule & Company Pvt Ltd/Government of Goa 750.0 MT 1.00 As Applicable /0.0 SIRIGAO PLANT State :Goa
IRON ORE STACKS, TYPE:LUMPS, GRADE(%):57,STACK NO.:L2, T.C.No.:22/50,LEASEHOLDER/INTERESTED PARTY: Chowgule & Company Pvt Ltd/Government of Goa 5020.0 MT 1.00 As Applicable /0.0 COSTI PLANT State :Goa
IRON ORE STACKS, TYPE:LUMPS, GRADE(%):57,STACK NO.:L3, T.C.No.:22/50,LEASEHOLDER/INTERESTED PARTY: Chowgule & Company Pvt Ltd/Government of Goa 1140.0 MT 1.00 As Applicable /0.0 COSTI PLANT State :Goa
IRON ORE STACKS, TYPE:FINES, GRADE(%):59,STACK NO.:F1, T.C.No.:08/41 Purchased from,LEASEHOLDER/INTERESTED PARTY: FOMENTO RESOURCES PVT LTD/Government of Goa 39150.0 MT 1.00 As Applicable /0.0 BIMBOL COLLEM State :Goa
Total No of Lots = 6

If required, above eAuction details may get updated/corrected, hence you are requested to update yourself on regular basis by checking the eAuction catalogue through your login.
Notice of Modifications/Circulars issued by Director of Mines & Geology, Govt. of Goa, as appearing on the Website of the Directorate of Mines & Geology shall supercede all other terms & conditions and same shall be binding on the bidders.
Prospective bidders are required to update themselves regularly by visiting the Website of DMG, Goa: for Iron Ore E-Auctions related Notice/Circular/Documents/News/Updates.

Mr. G. Yadav, Dy. Manager / TEL: 022-22022296 / EMAIL:
Mr. Sanat Patra, Jr. Executive / TEL: 022-22882854 / EMAIL:

Postal Address: Directorate of Mines & Geology, Ground floor, Institute Menezes Braganza Building, Panaji-Goa.
Phone: 2425291/2426431
Fax: 2425291/2422765

01.e-Auction Enrollment & Submission of EMD:

Intended bidders are required to apply by e-mails on official e-mail address of Directorate of Mines i.e. with a copy marked to expressing intention to participate in E-Auction. Application should contain all the details relating to applicant like Name, Address, Nationality, valid registration number given by IBM under Rule 45 of MCDR,1988, contact number like Fax number, Mobile number, Official telephone number, E-mail Id.

Application shall also have a statement to the effect that applicant has internet access to participate in E-Auction. The Application should also have a declaration stating that all the information furnished in Application is true and that Applicant either directly or indirectly was not involved in any illegal mining activity in the State of Goa and if the same is found to be false, the department may disqualify the Applicant from E-Auction and forfeit the EMD of Applicant in favour of Govt. of Goa. The application should also contain the details of Bank Account from which payments in respect of E-Auctioning and receipts of refund money etc. shall be made/received. The Bank details should include Saving or Current Bank Account Number, Name of the Bank, the Branch, MICR Code and IFSC code.

The Bank Account details of Directorate of Mines are as under in which account payments are to be effected concerning E-Auction including EMD along with Application with a non-refundable processing fee of 1%.
a) Saving Bank Account Number. : 025900101029535
b) Bank Name : Corporation Bank
c) Branch : Panaji Branch
d) MICR Code : 403017002
e) IFSC Code : CORP0000259
The Application shall contain the details of E-transfer of money from the Bank account of prospective bidder to the Bank account of the Department of Mines and Geology, Govt. of Goa, to the tune of:

Rs.5 lakhs for bidding upto 1000 metric tons and in multiples of Rs.5 lakhs for every additional quantity of 1000 Metric Tons, and
Rs.10 Crores for bidding for unlimited quantity limited to eAuction quantity.
The deposits shall be inclusive of 1% non-refundable amount of processing fee.

Number of bids allowed for different categories are as under:
(a)EMD deposit of 5 lakhs rupees - limited to maximum 1000 Metric Tons and additional units of 1000 Metric Tons for additional deposit of Rs.5 lakhs each.
(b)EMD deposit of 10.00 crore rupees - No limits on the number bids & any quantity permissible but limited to eAuction quantity.

The bidder at (a) above shall be eligible for fresh bidding only on full payment of successful bid amount to the extent of units auctioned to bidder on completed auction proceedings. For instance in case of EMD amount of say 10 (Ten) Lakhs and purchase of 2 units of 1000 Metric Tons such bidder shall be eligible for bidding only for two more units, unless he make full payment of 2 units purchased by him.

The prospective bidder upon deposit of EMD shall be required to register online on MSTC's portal, successfully.

02. Eligibility criteria:
a. Only buyers enrolled with DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA and registered online with MSTC's Website shall participate in e-Auction.
b.There is no cut-off date for the units established for participation in the e-auction. However, the unit must comply with all the statutory requirements at the time of registration.
c.Unregistered Bidders cannot participate in Iron Ore e-Auction.

03.Online Registration:
To become eligible to participate in e-auction, prospective bidders are required to register themselves online with MSTC on any working day at Website:

All the prospective bidders should have access to the internet & their e-mail ID. While filling the Online Buyer Registration form, each bidder generate a Unique 'User ID' & a 'Password' for themselves using they can access MSTC e-auction portal ( It shall be the sole responsibility of the bidders to keep their email id operational & their Password Secure and protected. If a bidder intends to change his/her e-mail id registered with MSTC, a written request should immediately be sent to MSTC.

Online registration as mentioned above of prospective bidders shall be activated by MSTC only after the receipt of mandatory & necessary confirmation from DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA alongwith the Maximum Permissible Quantity (MPQ) of the bidder. In the event of expiry of enrollment with DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA, the registration will automatically become dormant and during the period of dormancy, the bidders shall not be allowed to participate in bidding by MSTC.

04.Inspection of Materials:
DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA shall allow inspection of IRON ORE, to be auctioned, at site to all interested/prospective bidders as per the inspection schedule mentioned in the e-auction catalogue on written request of the bidder(s).

05.Base Price:
The base price shall be as declared by GOVT. OF GOA. The base price can be varied or changed by the GOVT. OF GOA any time but at least 24 hrs before the commencement of e-Auction and the same shall be indicated under eAuction catalogue available on Website. The base price shall be intimated in relation to grade of ore and the place where the ore is stored, i.e. the same grade of ore at different locations may have different base price.
The base price of the ore shall be fixed as per analysis of grade done by department and not as per the grade given earlier by respective lease holders/interested parties. However the e-auction is on as and where basis and it is for prospective bidders to independently analyse the ore if desired and bid as per their satisfaction.

06.Quantity & Lot size:
The stack wise quantity of ore shall be listed on the website of the department with details of near to approximate quantity and grade and location details.

The grade of ore shall be declared as per the grade given by the lease holder/person claiming the stack ore. In case of unclaimed or ceased ore, the grade shall be verified by DMG. The DMG shall use recognized/authorized agencies by MOEF or other Govt. authorities for the purpose. In any event, it shall be the declared grade and the registered bidders shall be permitted to lift max 12 samples of not more than 100 grams each as per the location as per the choice of registered bidder. Inspection/ samples of ore for at least for a period of 8 days and participating in bid and correctness of grade shall be the responsibility of the bidder. Grade of the ore as declared by the leaseholder/authorised person will be accepted for declaration; only if it was declared before the decision of the Hon'ble Supreme Court; all other cases the same procedure as in case of ceased ore will apply.

All e-Auction bids shall be in Indian Rupees per ton (and not based on lots) and shall exclude Royalty, taxes, E-Auction service charges and other Govt. taxes and fees if any.

Lots shall be preferably of 50000 Metric Tons. However, smaller lots if available shall be offered in quantities as they are available.

The bidders shall be permitted to bid in multiples/units of 10 MT or the lot size. In case one lot has more than one bidder due to partial bidding the allotment priority for lifting the material shall be issued first to one who has the largest quantity offer that has been accepted.

In situation not foreseen or any kind of difficulty that arises the decision of Director of Mines and Geology shall be final.

In all such multiple bids the time period granted for each one of them for lifting of material will be half the time granted to singular bid auction and will be one followed by the next.

There shall be no right to a bidder for claiming any specific part of lot auctioned. No choice of bidder will be considered for actual lifting. However the decision of Director of Mines & Geology shall be final.

07.Bidding Process:
The entire bidding process shall be regulated by MSTC LTD. Bidders shall visit the e-auction portal of MSTC LTD for bidding purpose. Bidders shall offer the quantity and price of the material of their choice subject to available Maximum Permissible Quantity (MPQ) through on-line e-auctions. The initial bid price quoted should not be less than the base price on display. During the bidding process, the bidders may change both, bid price & bid quantity of Iron Ore subject to the available Maximum Permissible Quantity (MPQ) and available Iron Ore quantity.

Bidding increments:
Bidding increments shall be @Rs.10 per wet metric tons.

Change in quantity & Price during bidding process:
i. Bid shall be accepted along with Quantity and Price both.
ii. Bid submitted by a bidder will supersede his earlier bid.
iii. Bid shall be placed with Quantity in multiples of 10 MT Unit/LOT basis only.
iv. In case the lot quantity has not been exhausted, a bidder may revise his bid by increasing its quantity at same / higher price within permissible quantity limits.
vi. During bidding process, in case of nil allocation against a bid, bidder can submit fresh bid at higher price with increased or decreased quantity within permissible quantity limits.
vii. A bidder cannot bid with quantity less than current allocated quantity.

Bidder cannot reduce the price once quoted. Further, the bid quantity can be increased from the current allocation during auction within Maximum permissible limits. The last bid submitted by a bidder shall supersede all his previous bids and allocation/ re-allocation shall be made on the basis of the last received bid only.

Methodology for provisional allocation of quantity:

Scenario 1: Till the entire quantity is exhausted, the bidders can book their requirements at floor price, as long as the total booking quantity is equal to the offered quantity.
Scenario 2: If the last bidder tries to book at floor price for a booking quantity more than the residual quantity, only the residual quantity will be allotted to him and the residue will become nil.

In this phase the preference for allotment is given on the basis of higher price. The requirements of the bidders with higher prices are fulfilled by de-allocating the L1 bidders quantity.
Scenario 3: De-allocation on the basis of allotted quantity.
If there is more than one bidder at L1 price with different allotted quantities, the first de-allocation takes place from the bidder whose allotted quantity is least. The de-allocation may take place from the allotted quantities of more than one bidders (in ascending order of allotted quantity), to fulfil the requirement of the bidder with higher price.
Scenario 4: De-allocation on the basis of booking time.
In case of situation where the bidders at L1 price have equal allotments, the de-allocation takes place on the basis of booking time. De-allocation targets the bidder who has booked their quantity at last with reference to time. The allotments of the bidders, who submitted bids earlier, with reference to time, will be de-allocated later.

Bidders may be allocated less quantity depending on allocation by system. For removal of doubts, it is clarified that a bidder may be allocated any quantity less than his bid quantity depending upon the allocation methodology of the system and such allocated quantity will be binding on the bidders.

Final Allotment:
After receipt of bid sheet, DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA shall examine the same. After due approval of the bid price & the allocated quantity by the competent authority, DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA shall allocate Iron Ore to the successful bidders.

The successful bidder is required to deposit the auction price and other outgoings of the Govt. including the service charges for E-Auction. Payment of bid price shall be in two stages.
Stage I:
40% of bid amount shall be deposited within four bank working days after the declaration of the successful bidder in e-auction. Apart from 40% of the amount, the successful bidder has to also deposit 10% advalorem royalty and other taxes including service charges payable to the service provider of E-Auction. In case the successful bidder fails to deposit the amount, the EMD shall be forfeited in favour of Govt. In case the same bidder wishes to continue in E-Auction, he has to furnish fresh EMD inclusive of non-refundable fee of 1%
The 2ndhighest bidder shall be given liberty to match the price of price quoted by the successful bidder who failed to deposit 40 % in four days by another seven days. If he agrees to buy, 2nd highest bidder shall be allowed to lift the ore on same terms and conditions or else there shall be re-auction of the lot.

Stage II:
The balance 60% of bid amount shall be deposited within 30 days from the date of declaration of E-Auction in favour of such bidder. In case the 60% balance amount is not deposited and a letter of extension of time is received from successful bidder within such period, the same may be granted by DMG subject to payment of simple interest payable @18% per annum upto maximum further period of 30 days. In case such 60% amount with interest is not deposited the EMD along with 40% deposit shall stand forfeited in favour of the Govt.

09.Lifting of Ore:
Upon payment of 100% amount with other deposits taxes and all other charges etc. the DMG shall issue a bulk sale, export or transit permit and shall facilitate lifting of cargo by electronically generated trip sheets on weigh bridges set up at the site. It shall be duty of successful bidder to lift the ore within a period of 30 days. In case purchased cannot be lifted within 30 days, the bidder shall request for enhancement of time from Director of Mines & Geology who shall decide allowing extension of time for ore on which full payments are done by bidders as deemed fit in each case.

The successful bidder shall pay jetty charges, loading charges etc. as auction is on as and where basis. The bidder should have access to internet etc. to participate in E-Auction and he shall be given a login and a password to participate in E-Auction. The transportation of ore shall be undertaken through registered Carriages (Trucks/Barges).

10.Force Majeure:
If at any time during the Delivery / release period, the performance of any obligation under these terms & conditions , in whole or in part by either party i.e. buyer and/or supplier, be prevented or delayed by reason of some insurmountable / hostile conditions arising out of strikes / break down of weighbridge / order of statutory authorities etc. and any other Technical or other reasons beyond the control of the buyer / DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA, provided notice of happening of any such eventuality is given by the affected party to the other within 21 days from the date of occurrence thereof, neither party shall by reason of such events have any claim for damages against the other in respect of such non-performance.

The decision of the DEPARTMENT OF MINES & GEOLOGY, GOVT. OF GOA shall be final on any dispute arising out of the above deal.