India: Two Iron Ore E-Auction on 26th September'13

MSTC (Metal & Scrap Trading Corporation Ltd) is organizing an Iron ore e-auction at Karnataka on behalf of various mines and stockyards in Karnataka. 

Iron ore's auction will be conducted on 26^th September'13. The total quantity of Iron ore offered for sale is 734,000 MT.

Auction 1 will commence at 16:00 HRS IST and conclude by 18:00 HRS IST

Auction 2 will commence at 14:00 HRS IST and conclude by 16:00 HRS IST

Auction1: Inspection of material  will take place between 20.09.13 to 25.09.13

Auction 2: Inspection of material  will take place between 21.09.13 to 25.09.13

Iron ore offered for sale:

Auction 1: Total quantity offered 394,000 MT

Iron ore fines 180,000 MT

Iron ore Lumps 20,000 MT

ROM 194,000 MT

Auction 2: Total quantity offered 340,000 MT

Iron ore fines 100,000 MT

Iron ore Lumps 240,000 MT

Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable