Orissa Mining Corporation (OMC), state owned mining company, which has an annual production of over 2 million tonnes, has received bids higher by INR 200-300/MT.
The Odisha Mining Corporation Ltd.(OMC), a Govenment of Odisha miner has received bids lower by up to Rs 200-300/t for sales of Iron ore lumps in Q4 FY14 (Jan- Mar’14), which had been tendered in the month of December 2013.
Company put for sale 83,100 tonnes of sized Iron ore of various grades being produced at different Iron ore mines of OMC Ltd. at Barbil, Gandhamardan & Daitari Region in Keonjhar District and Koira Region in Sundargarh District (Odisha). The total quantity offered for sales in Q2 FY14 was 73,100 tonnes.
Market participants mention that prices have gone high for the reason that other merchant private miners had raised their ore prices by up to INR 300/MT the previous month.
| Mines | Size | Grade | Qty Tendered (In Tonnes) | H-1 Bidder | Jan-Mar’14 | Oct-Dec’13 | July-Sep’13 |
| Barbil* | 10-40mm | 62% | 15,000 | Rashmi Cement | Rs 2,511/t | Rs 3,701/t | Rs 3,701/t |
| Gandhamardhan | 10-40mm | 62% | 10,000 | Visa Steel | Rs 3,531/t | Rs 3,303/t | Rs 3,701/t |
| Gandhamardhan | 5-18mm | 64% | 5,000 | – | – | Rs 4,801/t | Rs 5,007/t |
| Gandhamardhan* | 10-180mm | 65% | 5,000 | Maheshwari | Rs 3,355/t | Rs 3,710/t | Rs 3,710/t |
| Koira | 10-40mm | 62% | 40,000 | Prakash Ind | Rs 4,855/t | Rs 4,501/t | Rs 4,151/t |
| Daitari* | 10-40mm | 62% | 8,100 | Viraj Steels | Rs 3,303/t | Rs 3,501/t | Rs 3,501/t |
Prices on Ex-mines basis, including royalty
* Prices likely to be rolled back to previous quarter
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