India: SAIL to Auction Another Lot of Iron Ore Fines from Bolani Mines

Govt owned unit - SAIL (Steel Authority of India) has scheduled its next iron ore fines e-auction from Bolani mines on 19th Mar'20. The auction is being conducted for 100,000 MT iron ore fines (Fe 62.5%) from its Bolani mines. 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).

SteelMint learned from its close sources that it will also put another lot of 100,000 MT iron ore fines (Fe 62%) from its Barsua mines too and its notification is expected to be out shortly.

Iron ore auction due dates from Jharkhand extended
SAIL has extended the due date for auction from Kiriburu mines 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.