Eleven companies have submitted technical bids for the Ajitaburu Iron Ore block being auctioned by the Jharkhand government. The block, a significant one, had seen preliminary interest from 24 companies (that bought the tender document), including Adani Enterprises, Thriveni Earth movers and KJS Ahluwalia.
What premium this block eventually fetches, will be an indicator of the mood in the post-covid market for new iron ore blocks.
The players still in the running are steelmakers Jindal Steel and Power Ltd, Tata Steel Mining Ltd, Vedanta Ltd, JSMDC Ltd, KAI International Pvt Ltd, Rungta Mines Ltd, Shri Jaganath Power and Steel Ltd, Foreway Infra Properties Pvt Ltd, Sriram Multicom Pvt Ltd, Amalgam Power and Steel Ltd and Sharda Sons Resource Pvt Ltd. The Initial Price Offer is expected to be shared on today and final competitive bids called for on 19 July.
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