Iron ore E-auction for various mines and stockyards which are located in the states of Karnataka will commence on 25 Nov, 2013.
MSTC (Metal & Scrap Trading Corporation Limited) is conducting the bidding process on behalf of mines and stockyards. The total quantity of Iron ore offered for sale is 1.17 MnT of which 94% material offered in auction is ROM in which 0.7 Mnt is low grade ROM and 0.3 MnT is subgrade ROM.
Auction will commence at 1500 hrs IST and conclude by 1700 hrs IST. The Inspection of material will take place between 18 Nov to 23 Nov, 2013.
Due Date: 25 Nov, 2013
Iron ore offered for sale:
- ROM 1,107,000 MT
- Iron ore fines 64,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable
In the month of October, 1.5 MnT of Iron ore was sold by various mines and stock yards in Karnataka through e-auction mode in which 61% was ROM and 26% Iron ore fines. The main bidder for ROM in e-auction was JSW Steel Limited who purchased 79% of total quantity sold.
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