India's state-owned trading company MSTC is conducting 7th electronic auction on May 30 for mine head stocks of manganese ore held by Karnataka miner Sandur Manganese & Iron Ores (SMIORE) and Kumarswamy mining company.
About 7,440 mt of manganese ore will be put up for auction in 11 lots. The manganese content of the stocks ranges from 20-22% to 32-34%, according to information on MSTC's website. 9 lots of quantity 496 mt are from SMIORE and 2976 mt from Kumarswamy mining company.
MSTC held its first e-auction for manganese ore mined by SMIORE on September 21, through which 27,560 mt of ore was sold.
In the previous auctions bids were concluded at around Rs 8000 for Mn 36-38% and Rs 6500 for Mn 30-32% on ex-mines basis, excluding FDT and royalty of 4.2%.
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