Karnataka iron ore mine block auction for 8 companies is on progress in which 9 companies had participated. Yesterday (on 5 Sept. 2018) Department of mines, Govt. of Karnataka concluded final bidding process of one more mine. JSW Steel Ltd. submitted the highest bid for Mysore Minerals Ltd block in with Final Price offer of 95.2%. The mine has 9.7 MnT iron ore reserves.
A day before on 4th Sept’18 concluded final bidding process of 2 iron ore mines blocks. Minera Steel & Power submitted the highest bid for Nidhi Mining iron ore block and was declared Preferred Bidder with Final Price offer of 59.5%. The mine has 10.02 MnT reserves.
Kirloskar Ferrous submitted the highest bid for Bharat Mines & Minerals iron ore block with 7.58 MnT reserves with Final Price offer of 55.5% and was declared preferred bidder for the same.
Auctioning procedure for the rest two blocks is scheduled for today.
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.
Details of iron ore blocks auctioned in Karnataka in Phase III
| Name of Mine Block | Area in Hectare | Reserves in MnT | Technically Qualified Bidders | Preferred Bidders |
| Sri H G Rangangouda, ML No 2148 | 60.66 | 63.33 | JSW Steel, Kirloskar Ferrous Industries Ltd., Vedanta, MSPL, NMDC | Auction Ongoing |
| 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 | Auction Ongoing |
| 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. | JSW Steel Ltd. |
| 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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