B Rudra Gouda mines (B category), located in the state of Karnataka, is to offer Iron ore (lumps and fines) through e-auction on May 16 at 15:00 to 17:00 hrs IST, the total quantity of which stands at 248,000 MT.
In comparison to earlier e-auction, on April 22, the floor price has been lowered only for material with Fe% 60. Floor price for other grades remain constant.
Fines (Fe% 60) floor price is down by 6% i.e. from Rs 2,250/MT to Rs 2,250/MT and lumps (Fe% 60) floor price drops by 5% i.e. from Rs 3,470/MT to Rs 3,290/MT.
Details of material to be offered:
Iron ore fines
16,000 MT Fe% 59 to 60 at Rs 2,125/MT
16,000 MT Fe% 65.5 to 63.0 at Rs 2,650/MT
Iron ore lumps
100,000 MT Fe% 59 to 60 at Rs 3,290/MT
100,000 MT Fe% 61.5 to 62.3 at Rs 3,890/MT
16,000 MT Fe% 62.5 to 63.0 Rs 3,990/MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
Inspection of the material will take place from the 11th to 15th.
In earlier e-auction:
On April 22, B Rudra Gouda mines sold entire quantity (68,000 MT) of fines and only 10% of total (264,000 MT) lumps offered.
Floor price for fines with Fe% 57.5 to 58% was raised by 7% to Rs 1,705/MT, which was at Rs 1,590/MT on Mar 21 e-auction; lumps price was reduced by 1.5% i.e. from Rs 3,520/MT to Rs 3,470/MT.
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