India: Karnataka Manganese ore E-Auctions received good response

State-owned, MSTC-Karnataka, conducted the e-auction for Manganese Ore on behalf of Sandur Mines (SMIORE) on 18-19th Aug 2020. The auctions have received a meagre response, as the materials offered on 18th Aug received no bids. Meanwhile, the auction on 19th Aug received good response with 86% material was booked at 22% higher than the total Floor value.

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.

Source: MSTC data, Compiled and maintained by SteelMint