On February 22, from its Kumarswamy and Domimalai mines located in the state of Karnataka, NMDC sold out 256,000 MT (66%) of Iron ore (both lumps and fines), out of 388,000 MT in total.
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
Details of material sold out:
Donimalai mines
Iron ore lumps: 20,000 MT of Fe% 63.4% and 16,000 MT of Fe% 62.8
Iron ore fines 20,000 MT of Fe% 62.4, 62.5, 62.6, 62.7 and 63
Kumarswamy mines
Iron ore calibrated lumps: 40,000 MT of Fe% 62
Iron ore fines: 40,000 MT of Fe% 61 and 62 each
Details of material that was offered:
Donimalai Mines:
Iron ore Lumps 80,000 MT
Iron ore fines 100,000 MT
Low grade Iron ore fines 48,000 MT
Kumarswamy Mines
Calibrated Iron ore lumps 80,000 MT
Iron ore fines 80,000 MT
Biggest buyer: 56% of Iron ore was taken away by JSW itself. 16,000 MT was iron ore lumps and the rest 128,000 MT was fines alone.
A senior NMDC official told SteelMint, “Quality of our iron ore lumps have improved due to which 60,000 MT of it was sold out.
Steel mills in the state are running operations and are maintaining the same at a minimum level.
They are at present, making purchases from the e-auctions depending upon requirement only.
JSW has got all the required facilities for both pelletisation and beneficiation, and thus remains the biggest buyer in NMDC's e-auctions”.
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