India’s leading steel mill, Tata Steel has placed the highest bid for the Gandhalpada iron ore block in the ongoing mines auctions in Odisha at a premium of 141.25%, SteelMint learnt from sources.
The companies which had placed the initial bids for Gandhalpada block were Tata Steel, ArcelorMittal, Essel Mining, JSPL, MSPL, Rungta Mines, Shri Jagannath Steel, Shyam Mining, Vedanta, JSW, Appaloft, Adani and NMDC.
Sources informed SteelMint that 13 companies had placed bids in technical round for the Gandhalpada virgin iron ore mine with the highest bid being around 88.05% by Tata Steel.
The mine has an area of 241.1 Ha with explorations done up to G2 level. The mine has total geological resources of 314.37 mn t and average Fe at 60.48% .
The government has put 10 iron ore blocks under the hammer in this round. These include Nadidih BICO, Kasia, Gandhalpada, JumkaPatrishohi to name a few.
Odisha’s Department of Steel and Mines expects to complete the auction process by Sept’21-end and after the current tranche of 11 mineral blocks, it may auction another five blocks as composite leases. The Odisha government is expected to announce the technically qualified bidders for other mines gradually in the coming days.
Odisha iron ore mine block auction summary – Phase II
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