BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

Odisha Auctions 2020: JSPL Bags Guali Iron ore Mines

...

Fines/Lumps

BigMint Bureau

1809 Reads

19 Mar 2020, 07:46 IST

Odisha Auctions 2020: JSPL Bags Guali Iron ore Mines

Odisha's Guali iron ore mine was put up for auction yesterday (18th Mar) in which Jindal Steel & Power emerged as a preferred bidder at a premium of 144%, shared market sources.

According to close sources report to SteelMint, seven companies qualified the technical round namely - Jindal Steel, and Power Ltd (JSPL), JSW Steel, Rungta Mines, RP Sao, ArcelorMittal, Appaloft and Sarda Energy and Minerals. The mine fetched premium of 105% in technical round.

The mine has EC limit of 5.7 MnT pa and is spread on an area of 365.026 Ha and has geological resources of 198.741 MnT.

RP Sao was the erstwhile leaseholder of Guali iron ore mine.

Earlier towards the early Dec'19 Ministry of Mines, Govt of India had notified Odisha Mineral Exploration Corporation Limited (OMECL) as a separate legal entity to undertake operations of R P Sao mines (Guali) Iron Ore Block in pursuance of the second proviso to sub-sect. But later in Jan'20, Odisha govt under Section 10 (B) of the Mines and Minerals (Development and Regulation) Act, 1957 and in accordance with the amended mineral (auction) Rules, 2015 invited bids for grant of the lease.