Odisha: Serajuddin Mines Resumes Iron Ore Sales
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Odisha's second largest merchant miner, Serajuddin mines has resumed iron ore sales. In the hearing conducted yesterday i.e. 23rd Feb'18, the Supreme Court permitted Serajuddin mines to resume operations.
The miner produces around 10 MnT iron ore annually and has an EC limit of 15.15 MnT p.a.
Serajuddin had shut down its operations following Supreme Court's order owing to inability to submit the penalty amount by the deadline of 31st Dec'17. However, towards the end of 1st week of Feb'18, Serajuddin Mines submitted the penalty amount along with the interest, to which the final approval to resume the operations came on 23rd Feb'18.
Today the miner has announced fresh offers which are effective from today itself.
Serajuddin Mines Prices as on 24th Feb'18
| Material Type (Size mm) | Grade (Fe %) | Prices in INR/MT |
| Fines | Fe 63% | 2,350 |
| 5-18 mm | Fe 63% | 5,050 |
Prices mentioned are ex-mines, inclusive of Royalty, DMF & NMET, GST extra
Source: SteelMint Research
The miner has dispatched 9.56 MnT in CY'17 and remained a major source of iron ore to steel firms like JSW Steel, Essar Steel, Bhushan Steel along with other sponge and steel units.
JSW was the largest buyer of iron ore from Serrajuddin in CY'17 at 1.84 MnT contributing 19% of total share of iron ore dispatches by Serajuddin Mines. Other major buyers were - Bhushan Steel 1.59 MnT (17% share), Essar Steel 1.23 MnT (13% share), and Rashmi Metaliks 0.85 MnT (9% share).
