The e auctioning of iron ore is scheduled to commence in Bellary on Wednesday the September 14th 2011.

The auctioning will be conducted through the e-auction portal www.mstcecommerce.com.

Once the auctioning process is completed, the companies that have made online payment, will have to seek permits from the Mines and Geology and Forest departments to transport the ore.

The availability of stocks is as under
Total - 25 million tonnes
Bellary - Around 14 million tonnes
Chitradurga - Around 7 million tonnes
Tumkur - Around 4 million tonnes

The authorities have to ensure that 1.5 million tonnes of iron ore are auctioned every month.

To monitor the auctioning process, based on the CEC recommendations, the Supreme Court had ordered the setting up of a Committee. The Committee comprises APCCF Mr Deepak Sharma, CCF Mr UV Singh, and Director of Mines and Geology Department Mr HR Srinivasa.

(Sourced from DHNS)