MSTC (Metal & Scrap Trading Corporation) is conducting Iron ore e-auction for NMDC’s Donimalai & kumarswamy mines in Karnataka. NMDC is offering 276,000 MT of Iron ore through e-auction.
Iron ore auction for NMDC will be conducted on 09 Dec, 2014. Auction will commence on Indian standard time between 13:00 hrs to 15:00 hrs. The inspection of material will take place from 03-08 Jan, 2014.
Total Iron ore offered for sale:
Iron ore Lumps: 200,000 MT
Iron ore Fines: 76,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable
In the last e-auction of NMDC Donimalai & Kumarswamy mines (Karnataka) held on 30 Dec 2013, NMDC sold only 80,000 MT of Iron ore out of 276,000 MT offered. Bidder’s shows less interest to purchase Iron ore lumps and only 4,000 MT of lumps sold out of 200,000 MT Iron ore offered.
BMM Ispat was the only buyer for Iron ore lumps in the e-auction. Iron ore lumps sold on floor price of INR 3706/MT for Fe 62 grade. Iron ore fines floor price for Fe 60 grade was INR 2,050/MT and booking price was INR 2708/MT.
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