Odisha iron ore auctions are underway. Teherai iron ore and manganese mine was put under the hammer today in which Tarama apartment emerged as a preferred bidder at a premium of 93.06%, shared market sources. The mine was reserved for merchant use.
The mine (Teherai) fetched the highest premium of 70.01% in the technical round. Other prominent bidders were Lal traders, Yazdani Steel, Anand export, Essel Mining, Tirupati Containers Pvt Ltd, KSR Infracon, BICO, Vedanta and Adani.
Tarama Apartment stood highest bidder for Teherai iron ore and Manganese mine. As per the sources it is sister concern of Mangalam metals.
Teherai mine was 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 137.46 hects. The mine has reserves of 11.53 MnT iron ore. The mine has EC limit of 2.496 MnT iron ore & 0.018 MnT manganese ore, and the mine produced 0.387 MnT iron ore in FY19.
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