Odisha Mining Corporation (OMC) has scheduled its next iron ore e-auction on 07 Mar’18. Base prices remain unchanged against last e-auction held in Jan’18.
Odisha Mining Corporation (OMC), a state-owned miner is to conduct next e-auction for 340,000 MT iron ore fines on 07 Mar’18. The material put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept base prices unchanged against the previous e-auction conducted in 06 Jan’18.
Iron ore supply in Odisha has eased out with few major merchant iron ore mines resuming operations after receiving consent from the Apex Court on penalty payment of illegal mining. Serajuddin Mines and Essel Mining have already resumed sales.
Base price comparison of OMC iron ore e-auctions-
| Mines | Size | Fe (%) | Base Price | Base Price | Base Price | Change | Change | Quantity |
| (mm) | as on 06 Dec’17 | as on 06 Jan’18 | as on 07 Mar’18 | (in INR/MT) | (in %) | (MT) | ||
| Gandhamardan | -10 | 60-62 | 800 | 1,000 | 1,000 | = | = | 150,000 |
| Kurmitar (Koira) | -10 | 62-60 | – | 1,000 | 1,000 | = | = | 100,000 |
| Daitari | -10 | 64-62 | – | 1,900 | 1,900 | = | = | 90,000 |
| Total | 340,000 |
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
OMC received overwhelming response for last iron ore fines e-auction of 390,000 MT iron ore fines, conducted on 6 Jan’18 in which the miner had raised floor prices by INR 200-300/MT post price hike by other Odisha based major merchant miners following SC order of illegal mining.
OMC has set target to produce 8 MnT iron ore in FY18. The miner recorded production of 2.5 MnT iron ore from Apr-Sept’18.
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