Iron ore e-auction in Karnataka for various mines and stock yards. The total quantity of Iron ore offered for sale is  2.6 MnT.  

MSTC is organizing Iron ore e-auction from 07 to 09 of Jan, 2014. The inspection of material will take place from 01 to 08 Jan, 2014.

Total Iron ore offered for sale: 

On 07 Jan,2014

• Iron ore Lumps: 44,000 MT
• Iron ore Fines: 24,000 MT
• ROM: 777,000 MT

On 08 Jan, 2014

• Iron ore Lumps: 24,000 MT
• Iron ore Fines: 44,000 MT
• ROM: 1,163,000 MT

On 09 Jan, 2014

• Iron ore Lumps: 36,000 MT
• Iron ore Fines: 232,000 MT
• ROM: 292,000 MT

Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable

2.6 MnT of Iron ore offered in this e-auction in which 1.6 MnT are Sub Grade ROM. The booking price for Sub Grade ROM sold on 31 Dec, 2013 e-auction was INR 2,230/MT. R B Seth  Shree Ram Narasingdas purchased 278,000 MT of Sub Grade ROM in the e-auction.

MSTC has offered about 3.4 MnT of Iron ore in the month of December and the main buyer for the ore was JSW Steel Limited. In comparison to November 2013, MSTC has increased the offered quantity by 12.4% in the month of December 2013.