Odisha iron ore auctions are underway. Kolmong iron ore mine was put under the hammer today in which Yazdani Steel emerged as a preferred bidder at a premium of 100% shared market sources. The mine was reserved for merchant use.
The mine fetched the highest premium of 81.55% in the technical round. Other prominent bidders were Lal Traders, Rungta, Gopal sponge and GV mines.
Kolmong iron ore mine is one among the 20 mines that are going to expire on Mar’20 and has been put up for auction. The mine is spread in an area of 218.53 hects. The mine has reserves of 1.397 MnT and EC limit of 0.04 MnT pa iron ore.
Rungta Mines Ltd. was the erstwhile leaseholder of Kolmong iron ore mine.
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