Govt owned unit – SAIL (Steel Authority of India) had scheduled auction for for 100,000 MT iron ore fines (Fe 62.5%) from its Bolani iron ore mines today i.e 12th May’20. The miner fetched bids for 40% of the material put to auction( i.e 40,000 MT) of ore received bids at INR 1,300/MT (loaded to rake, Royalty, DMF, NMET & other taxes extra)
The auctions were getting extended due to COVID-19. Prior to this, an auction conducted in Feb’20 from Bolani mines received a good response and 100,000 MT offered was booked at INR 2,260-2,270/MT (loaded to rake, Royalty, DMF, NMET & other taxes extra).
Iron ore production from SAIL (Steel Authority of India Ltd) mines in Jharkhand, Odisha, and Chhattisgarh mines have accumulated 3.2% growth to 29.26 MnT in the financial year FY’20 against last fiscal year. The figures are inclusive of that from SAIL BSP. Bolani mines, Odisha achieved the best ever annual iron ore production with 5.926 MnT.
The iron ore dispatch from the above mentioned mines increased by 5% to 29.43 MnT in FY’20 against the last fiscal. The figures are inclusive of that from SAIL BSP.
Leave a Reply