India: Karnataka manganese ore auctions receives meager response
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State-owned, MSTC-Karnataka, conducted the e-auction for Manganese Ore on behalf of Sandur Mines (SMIORE) on 16th Jun 2020. The auction has received a meagre response, as only 13,608t quantity of Manganese ore was booked at 0.60% higher than the total Floor value and remaining 4,956t quantity remains unsold. The major reason behind this response can be attributed to the downstream manganese alloys market and the pre-existing inventory with the alloy manufacturers. The prices of silico-manganese have been falling continuously since the past few weeks, which is refraining the producers from procuring any further materials.
The Manganese (Mn) content of the material offered was in the range of 20-34% and Iron (Fe) content was in the range of 20-36%, according to information on MSTC's website. Royalty 5%, & GST (5% on Ore auction price; 18% on Royalty, and Bulk permit processing fee) are applicable.
| Sandur Mines Manganese Ore Auctions: 16 Jun 2020 | ||||||
| Procuring Companies | Weighted Average Mn% | Weighted Average Fe% | Total Allocated Quantity (MT) | Total Floor Value | Total H1 value | % Increase over floor Value |
| Andhra Pradesh | ||||||
| Berry Alloys Ltd | 23 | 32 | 3,024 | 1,00,80,000 | 1,00,80,000 | 0.00 |
| Nava Bharat Ventures Ltd | 30 | 23 | 2,016 | 1,26,00,000 | 1,27,00,800 | 0.80 |
| Sarda Metals and Alloys Ltd | 33 | 22 | 2,520 | 1,96,56,000 | 1,97,31,600 | 0.38 |
| Chhattisgarh | ||||||
| Monnet Ispat and Energy Ltd | 31 | 22 | 1,512 | 1,05,84,000 | 1,06,54,560 | 0.67 |
| Sarda Energy and Minerals Ltd. | 31 | 23 | 504 | 35,28,000 | 35,43,120 | 0.43 |
| Karnataka | ||||||
| Acore Industries Pvt. Ltd. | 29 | 26 | 3,024 | 1,51,20,000 | 1,53,01,440 | 1.20 |
| Kej Minerals Pvt Ltd | 23 | 29 | 1,008 | 20,16,000 | 20,16,000 | 0.00 |
| Grand Total | 13,608 | 7,35,84,000 | 7,40,27,520 | 0.60 | ||
Source: Karnataka e-auctions bidsheet
