Karnataka iron ore mine block auction for 8 companies is on progress in which 9 companies had participated. Yesterday (on 4 Sept. 2018) Department of mines, Govt. of Karnataka concluded final bidding process of 2 iron ore mines blocks. Minera Steel & Power submitted the highest bid for Nidhi Mining iron ore block in Karnataka with Final Price offer of 59.5%. The mine has 10.02 MnT reserves.
Kirloskar Ferrous bags Bharat mines and minerals: Kirloskar Ferrous submitted the highest bid for Bharat Mines & Minerals with 7.58 MnT reserves with Final Price offer of 55.5%.
Rest 3 blocks will be auctioned today and tomorrow.
Earlier, Govt. of Karnataka had floated tender for iron ore blocks. The 8 iron ore mines belong to category “C” mines. Out of 8 iron ore blocks put under the hammer, 5 iron ore blocks have received the good response. Around 9 companies were announced technically qualified bidders for 5 mines and the remaining three mines had less than three bidders hence not qualified for next round of bidding process.
List of iron ore blocks- wise bidders-:
| Name of Mine Block | Area in Hectare | Reserves in MnT | Technically Qualified Bidders | Preferred Bidders |
| Sri M Channakesava Reddy (M/s Sri Lakshmi Narasimha Mining Co), ML No 2566 | 7.57 | 3.179 | Less than 3 Bids | Auction process annulled |
| Sri M Srinivasulu, ML No 2631 | 75.14 | 9.88 | Less than 3 Bids | Auction process annulled |
| M/s Mineral Miners and Traders, ML No 2185 A | 44.42 | 9.224 | Less than 3 Bids | Auction process annulled |
| Sri H G Rangangouda, ML No 2148 | 60.66 | 63.33 | JSW Steel, Kirloskar Ferrous Industries Ltd., Vedanta, MSPL, NMDC | Undergoing auction |
| 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 | Undergoing auction |
| 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. | Undergoing auction |
| 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
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