Odisha Auction 2020: Kashvi International Bagged Jaribahal Iron Ore Mine at 150% Premium

Odisha iron ore auctions are underway. Jaribahal iron ore mine was put under the hammer today in which Kashvi International emerged as a preferred bidder at a premium of 150%, shared market sources. The mine was reserved for Captive use.

The mine(Jaribahal) fetched the highest premium of 92% in the technical round. Other prominent bidders were Kashvi International, Yazdani Steel, Patnaik Minerals, Gallant Ispatt, Ramgarh Sponge and Iron, Super Smelter, Amalgam Steel and Power, CP Ispat and MGM Minerals.

Debabrata Behera stood highest bidder for Siljora-Kalimati iron ore and Manganese mine at 154% put to auction yesterday. As per sources, Debabrata Behera is a part of Kashvi International.

Jaribahal mine was one among the 20 mines that are going to expire on Mar'20 and has been put up for auction. The mine is spread in an area of 106.533 hects. The mine has reserves of 8.152 MnT iron ore. The mine has EC limit of 0.998 MnT, and it produced 0.998 MnT iron ore in FY19.