The government of the western Indian coastal state of Goa has sent a list of iron ore blocks to the Geological Survey of India (GSI) for reserve estimates in each of the blocks before they are auctioned, a government official said on Monday, December 8.
The official said reserve estimates for each of the iron ore blocks are needed to set a reserve price before the assets are auctioned. He said that Goa has already completed the auction of 11 blocks, of which only five have started production, with two planned for the near future. The government will decide on a mechanism for allocating maximum production limits for each iron ore mine operating in the state, keeping in mind the recent Supreme Court judgment setting a maximum annual ceiling of 20 million tonnes that can be exported per year from all mines.
