NMDC’s Donimalai and Kumarswamy mines in the states of Karnataka are offering 288,000 MT of Iron ore for sale through e-auction mode on 29 Nov, 2013. The e-auction will be conducted by MSTC`s monitoring committee.
Auction will commence on Indian standard time between 15:00 HRS to 17:00 HRS. The inspection of material will take place from 25 Nov to 28 Nov, 2013
Iron ore offered for sale:
Iron ore Lumps: 228,000 MT
Iron ore fines: 60,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable
NMDC’s Iron ore e-auction held on 16 Nov, 2013 received a week response from the bidders. NMDC was proficient to sell only 31% of Iron ore out of 252,000 MT. The total qty of Iron ore fines offered 52,000 MT which was sold above the floor price whereas only 14% Iron ore lumps were purchased out off 200,000 MT.
Fe 60.5% Iron ore fines was sold at INR 2879/MT
Fe 60% Iron ore fines was sold at INR 2740/MT
Fe 63.5% Iron ore lumps was sold at INR 3693/MT
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