DMG, Government of Goa has announced the date for 8th iron ore e-auction. The e-auction is scheduled for 08 Sept’15. 1.1 MnT iron ore comprising of ( 0.88 MnT ROM, 0.12 MnT fines & 0.10 MnT lump).
Material being offered ranges from grade Fe 46-65%. Fines being offered have iron ore content ranging from Fe 46-61%, ROM from Fe 49-65% and lump of grade ranging from Fe 46-63%.
0.66 MnT ROM would be offered from Vedanta’s Codli Mine. Remaining material comprises of that which is lying at other mines, jetties and plots.
Last e-auction, held on 04 Aug’15, received a poor response owing to high base prices with only 55,453 MT material being sold out of the total offered quantity of 1 MnT.
Link to the proposed lots for Goa 8th e-auction
Indian Railways has reduced Distance Based Charges on iron ore exports w.e.f 08 Sept’15. Vedanta is expected to resume mining operations at its Codli Mines in Oct’15 and is in discussions with Chinese steel mills for exports to China. Also, other miners namely, V.M. Salgaonkar, Chowgule & Company and Fomento Resources are also expected to resume mining operations in Oct’15
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