India: Iron ore E-auction in Karnataka on 29th August

MSTC (Metal & Scrap Trading Corporation Ltd), is organizing Iron ore e-auction at  Karnataka on behalf of various mines and stockyards on 29^th August. 

MSTC`s monitoring committee will manage the whole bidding process. Total quantity of Iron ore offered for sale is 5,32,000 MT

Auction 1 is to commence at 14:00 HRS IST and will conclude by 16:00 IST

Auction 2 is to commence at 16:00 HRS IST and will  conclude by 18:00 IST

Inspection of material for auction 1 and auction 2 will take place between 23.08.13 to 28.08.13.

Iron ore offered for sale

Auction 1:

Iron ore fines 92,000 MT

Iron ore lumps 52,000 MT

ROM 20,000 MT

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

Auction 2:

Iron ore fines 1,36,000 MT

Iron ore lumps 2,32,000 MT

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