Vedanta Limited wins the bid for Bicholim mining block

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Panaj:   In what paves way for resumption of Iron Ore mining industry in the State, Goa Chief Minister Pramod Sawant on Wednesday announced that Vedanta Limited had successfully won the bid for one of the four blocks that was auctioned earlier this year.

Briefing mediapersons on Wednesday in Panaji, Sawant said that Vedanta Limited company emerged as the highest bidder with 63.55 per cent revenue for Bicholim Mining Block, spread over 485 hectare.

He said the state government has started process to auction four mining blocks in the state, including the Bicholim.

Sawant said that the existing Block was being run by Vedanta itself before stoppage of the Iron Ore mining industry in the year 2012 by the Supreme Court.

The chief minister said that 51 tender documents were taken by the bidders for the auctioning of four blocks of which eleven companies had submitted their bids.

“Total five companies had submitted their bid for Bicholim Block,” Sawant said.

Director Mines and Geology Suresh Shabhogue told reporters that the successful bidders will have to take fresh approvals including Environment Clearance and Consent to Operate.

He expressed the possibility of resumption of mining in Goa post-monsoon in the year 2023. The Director said that the estimated resources for all the four blocks cumulatively is Rs 43,000 crore of which the successful bidding companies have to pay 0.5 per cent, which is Rs 215 crore.

“Of Rs 215 crore, 15 per cent have to be paid within 15 days after which the State government will issue Letter of Intent,” Shabhogue said adding that the mining lease is for 50 years respectively.

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