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Karnataka Iron Ore Block Auctions: MSPL Wins 2 Mine After Aggressive Bidding

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Fines/Lumps
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13 Sep 2018, 12:02 IST
Karnataka Iron Ore Block Auctions: MSPL Wins 2 Mine After Aggressive Bidding

Southern India pellet maker - MSPL declared preferred bidder for HG Rangagouda mines with 63.3 MnT reserves.

Department of Mines, Govt. of Karnataka has concluded the bidding process of 'C' category iron ore blocks Phase III. The last iron ore block put under the hammer of Sri H.G.Rangangouda block has been won by MSPL Ltd. They have submitted the highest bid for the mine with Final Price offer at 129.9%. The mine has 63.33 MnT iron ore reserves.

MSPL is a flagship company of the Baldota Group of Companies and operates a pellet plant in Karnataka with a capacity of 1.2 MnT pa and pellet production of around 1 MnT and procures iron ore fines primarily through Karnataka e-auctions. In block auctions conducted in 2016, MSPL won 2 iron ore mines.

Out of five iron ore blocks allotted, MSPL won two blocks and Minera Steel & Power, JSW Steel and Kirloskar Ferrous bagged one block each.

Govt. of Karnataka had floated tender for 8 iron ore blocks belonging to category "C" mines. Out of 8 iron ore blocks put under the hammer, 5 iron ore blocks received a good response. Around 9 companies were announced technically qualified bidders for 5 mines and the remaining three mines had less than three bidders hence did not qualify for next round of bidding process.

Details of an iron ore block auctioned in Karnataka in Phase III

Name of Mine Block
Area in Hectare Reserves in MnT Technically Qualified Bidders Preferred Bidders
Sri H G Rangangouda, ML No 2148 60.66 63.33 JSW Steel, Kirloskar Ferrous Industries Ltd., Vedanta, MSPL, NMDC MSPL Ltd
M/s Kanhaiyalal Dudheria, ML No 2563 30.09 9.26 BMM Ispat, JSW Steel, Kirloskar Ferrous Industries Ltd, Minera Steel and Power Pvt Ltd, MSPL Limited MSPL Ltd
M/s Mysore Minerals Limited, ML No 995 32.89 9.708 JSW Steel, Kalyani Steels Ltd, Kirloskar Ferrous Industries Ltd, Minera Steel and Power Pvt Ltd, MSPL Limited and Vedanta Ltd. JSW Steel Ltd.
M/s Nidhi Mining Company (Smt K M Parvathamma), ML No 2433 29.49 10.024 JSW Steel, Kirloskar Ferrous Industries Ltd and Minera Steel and Power Pvt Ltd Minera Steel and Power Pvt Ltd
M/s Bharath Mines and Minerals, ML No 2245 24.47 7.577 JSW Steel, Kirloskar Ferrous Industries Ltd, and KIOCL Kirloskar Ferrous Industries Ltd

Source: GOK, MSTC, SteelMint Research

13 Sep 2018, 12:02 IST

 

 

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