Business Line reported that following a decline in global iron ore prices, the Goa government has decided to put on hold its third phase of iron ore e-auction till the market prices stabilise.

The third phase of e-auction was scheduled for next week.

Director of Goa Mines and Geology Department Mr Prasanna Acharya confirmed this recently.

The State has already auctioned approximately 1.7 million tonne of ore over the last 1 month in two phases after the Supreme Court allowed the State to carry out E auction of ore extracted prior to the October 5th ban on mining activities.

The State through the MSTC had auctioned 5.35 lakh tonne of low grade ore on February 17th, a second lot of 12 lakh tonne was auctioned on March 5th.