Odisha Mining Corporation (OMC) is all set to conduct its 64th auction for Chrome ore on 09-Nov-2020. The details of the forthcoming auctions are as shown below:
- OMC reduced the base prices of various grades of Chrome Ore (Friable) by 10% m-o-m for Nov auctions.
- The total quantity offered for the auction is 1,13,100t, out of which 30,100t is for regular grade, while the rest is for subgrade (less than 40pc) ores.
- The reduction in the base price can be attributed to the falling ferro chrome prices in the domestic market despite a hefty increase in the prices of chrome ore from the last month auction.
- Demand from exports is also low, as the producers have lost the competitive edge due to higher production cost inline with increased ore prices.
- The price per WMT offered by the successful bidders at the time of e-auction includes royalty, District Mineral Fund (DMF) charges, National Mineral Exploration Trust Fund (NMETF) charges & weighment charges and is on ex-mines/plot. Royalty (which is included in price), DMF & NMETF charges shall be borne by OMC. Taxes and duties are applicable extra.
- The minimum quantity for the bid from both the mines is 100 MT and thereafter in multiples of 100 MT.
The details of grade wise Chrome ore prices and quantity from both the mines is as summarized below for ready reference.
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