SAIL had scheduled iron ore fines auction on 22nd Jan’20 from its Kiriburu mines for 2,00,000 MT. As per sources report to SteelMint, the auction has been extended further amid pending clearance approvals from Odisha govt. The quantity of iron ore fines put to auction from Kiriburu mines has iron content at Fe 62%.
Towards mid of Dec’19, the company had extended due dates for sale of 10,00,000 MT iron ore fines from its Gua, Kiriburu and Meghahatuburu mines till Jan’20.
In Sept’19, Indian government took a decisive step in assuring supply of raw material to steel sector by allowing Steel Authority of India Ltd (SAIL) to sell 25% of its total annual mineral production in merchant market. This was in order to avoid any kind of possible disruption that may occur because of mining auction due on March 2020.
Government of India has also given permission to sell 70 MnT of sub grade minerals in the captive mines of SAIL (Steel Authority of India Ltd). This would enable SAIL to lead the way in ensuring availability of iron ore in the years up ahead for the steel sector.
Last year the SAIL’s iron ore production was 28 MnT.
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