The Odisha state government has started the second round of mineral block auctions with the announcement of technically qualified bidders. The companies which have cleared the technical round for Nadidih BICO mine block are ESL Steel Ltd, Ramgad Minerals, Rungta, ArcelorMittal, Orissa Metaliks, Bhushan Power & Steel and Shri Jagannath Power & Steel.
Sources informed SteelMint that there were seven technically qualified bidders for the Nadidih BICO mines with the highest bid being put at 76%. The highest initial price offer amongst the “technically qualified bidders” shall be the floor price for the second round of the e-auction.
The mine has an area of 74.5 Ha with explorations done up to G2 level and has total geological resources of 22.228 mn t of iron ore. The mine produces 89.334% fines and 10.666% lumpy ore.
The government has put 10 iron ore blocks under the hammer in this round. These include Nadidih BICO, Kasia, Gandhalpada, JumkaPatrishohi to name a few.
Odisha’s Department of Steel and Mines expects to complete the auction process by Sept’21-end and after the current tranche of 11 mineral blocks, may auction another five blocks as composite leases. The Odisha government is expected to announce the technically qualified bidders for other mines gradually in the coming days.
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