VESCO conducted an auction for sale of 12,000 t of iron ore fines (Fe58.25%) and 12,000 t of lumps (Fe62.8%) from its Ramanamalai mines in Bellary, Karnataka, on 20 Feb’23. According to sources, the entire material remained unsold as buyers showed no interest. The floor price for fines was set at INR 3,550/t and that for lumps was INR 4,790/t (including royalty, DMF, and NMET).
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