India: Iron Ore E-Auction in Karnataka on 17th October'13

Iron ore E-Auction is going to be held in Karnataka on 17^th October, which is being conducted by MSTC (Metal & Scrap Trading Corporation Ltd) on behalf of various mines and stock yards in Karnataka. Two auctions are going to take place on 17^th October'13.

The total quantity of Iron ore offered for sale is about 760,000 MT. Auction will commence at 14:00 HRS IST and Conclude by 18:00 HRS IST.

Inspection of material will take place between 10.10.13 to 16.10.13

Iron ore offered for sale: Auction1

Iron ore fines 120,000 MT

Iron ore Lumps 400,000 MT

ROM 44,000 MT               

Iron ore offered for sale: Auction2

Iron ore fines 68,000 MT

Iron ore Lumps 100,000 MT

ROM 28,000 MT               

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