India: SAIL Further Extends Due Date of Iron Ore Fines E-auction from Jharkhand Mines

SAIL (Steel Authority of India Ltd) has extended due dates of its iron ore fines auctions scheduled from its Jharkhand mines.

-- Due date for auction from Kiriburu mines has been postponed till 17 Mar'20 which was earlier due on 28 Feb'20. Quantity put under hammer is 200,000 MT iron ore fines.

-- For other mines like Meghahatuburu and Gua due dates have also been extended to 13th and 25th Mar 2020 respectively. Quantity of fines offered from Meghahatuburu and Gua mines are 300,000 MT and 500,000 MT respectively.

SteelMint learned from its reliable sources that due to pending approvals from the Jharkhand state govt, the auction due dates have been extended.

Last week auction from SAIL's Bolani iron ore mines in Odisha received a good response and 100,000 MT offered was booked at INR 2,260-2,270/MT (loaded to rake, Royalty, DMF, NMET & other taxes extra). Later in the same week entire 60,000 MT fines (Fe 62%) from its Barsua iron ore mines (Odisha) was booked at INR 2,270/MT (loaded to rake, Royalty, DMF, NMET & other taxes extra).