Companies such as JSW Steel, Vedanta, Kirloskar Ferous Industries Ltd. have submitted technical bids for the iron ore blocks Vyasankare, Jainsingpur North, Jainsingpur South, HR Gaviappa and Somanahalli which up for sale in Karnataka, as per latest updates with SteelMint.
While MSPL has submitted a technical bid for Vyasankare, the promoters are pursuing the other four blocks through the sister concern, Ramgad Minerals and Mining. The greatest interest seems to be for HR Gaviappa, followed by the Jainsingpur North block.
Also participating in these auctions are JSPL, and Shri Jagannath Steel and Power which has recently acquired Mandovi Pellets in Goa.
These are the first iron ore mines in the state to be auctioned after the Centre removed an export duty on iron ore and pellets, and the Supreme Court allowed Karnataka’s miners to sell iron ore directly. The implications of these moves should reflect on the premiums the auctions fetch.
The announcement of technical bidders is scheduled to take place on 14 Mar’23.
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