Goemkarponn reported that Goa’s Chief Minister Mr Pramod Sawant announced that Vedanta is the successful bidder to acquire Block 1, Bicholim in the first phase of auctioning with the bidder executing the lease for a period of 50 years. He said “Vedanta is the successful bidder to acquire Block 1 Bicholim in the first phase of auctioning; a new era has begun for the Mining Sector in Goa. The long pending issue of Mining in Goa has come to a practical end.” As per information, the online bid for Bicholim-Mulgao mining block was opened on at 63% of the average sale price fixed by Indian Bureau of Mines and Vedanta bided highest at 63.55% revenue share. The other companies include JSW Steel, AMNS India, JSPL and MSPL Ltd. The first installment of the bid price will have to be paid to the government within 15 days after which the Letter of Intent will be issued. This letter of intent is valid for a period of 3 years from the date of its issuance, within which time all the conditions must be fulfilled and the Mining Lease deed must be executed between the bidder and the Government of Goa
Goemkarponn reported that Goa’s Chief Minister Mr Pramod Sawant announced that Vedanta is the successful bidder to acquire Block 1, Bicholim in the first phase of auctioning with the bidder executing the lease for a period of 50 years. He said “Vedanta is the successful bidder to acquire Block 1 Bicholim in the first phase of auctioning; a new era has begun for the Mining Sector in Goa. The long pending issue of Mining in Goa has come to a practical end.” As per information, the online bid for Bicholim-Mulgao mining block was opened on at 63% of the average sale price fixed by Indian Bureau of Mines and Vedanta bided highest at 63.55% revenue share. The other companies include JSW Steel, AMNS India, JSPL and MSPL Ltd. The first installment of the bid price will have to be paid to the government within 15 days after which the Letter of Intent will be issued. This letter of intent is valid for a period of 3 years from the date of its issuance, within which time all the conditions must be fulfilled and the Mining Lease deed must be executed between the bidder and the Government of Goa
