NMDC is to offer iron ore through e-auctions in the state of Karnataka, from its Donimalai and Kumarswamy mines on April 4.
The total quantity of iron ore (including lumps and fines) which is to be offered from both of its mines is 420,000 MT.
From Donimalai:
Iron ore lumps 136,000 MT
Iron ore fines 44,000 MT
From Kumarswamy:
Iron ore calibrated lumps 200,000 MT
Iron ore fines 40,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
In the latest e-auction, which was held on March 26, NMDC was able to meet with only 6% of sales in lumps and the entire quantity of fines was sold out.
An NMDC official told SteelMint that buyers are preferring to use Pellet instead of lumps looking at the price difference between fines and lumps.
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