Directorate of Mines & Geology (DMG), Government of Goa has invited bids for 5th e-auction in which 2.2 MnT of Iron ore will be offered. The tentative date of 5th e-auction is 02 Sep, 2014.
Out of 2.2 MnT, 1.3 MnT is fines, 0.2 MnT is lumps and 0.7 MnT is ROM. Fe 55-60 Iron ore is 0.7 MnT, below Fe 55 is 1.3 MnT above Fe 60 is 0.2 MnT.
In the 4th e-auction which started today, 3 MnT Iron ore will be offered and is to continue for the next couple of days. 0.6 MnT is likely to be offered on the 20th and rest 2.2 MnT on the .
According to participants, about 0.2 MnT Iron ore was offered today and most of the lots remained unsold. Nearly 90% of the lots sold received poor response as bids were in line with base price.
In the last 3 e-auctions, out of 2.4 MnT Iron ore offered, 2.1 MnT was sold and 0.45 MnT was exported. Until now, 5.4 MnT Iron ore has been offered via 4 e-auctions.
In last one month, Chinese Fe 62% spot Iron ore fines prices have weakened by USD 3/MT. Current prices are at USD 93/MT CFR China.
|
Company Name |
Fines |
ROM |
Lumps |
Grand Total |
|
Sesa Sterlite |
490,057 |
– |
73,364 |
563,421 |
|
Chowgule & Company |
68,473 |
322,766 |
– |
391,239 |
|
V.M. Salgaoncar & Bro |
201,582 |
142,935 |
46,510 |
391,027 |
|
Timblo Enterprises |
271,061 |
– |
– |
271,061 |
|
M/S Sociedade Timblo Irmamsa Limitada(Pti) |
– |
157,781 |
– |
157,781 |
|
V.D. Chowgule Late |
109,702 |
– |
5,419 |
115,121 |
|
Minescapr Kadar Ores |
104,429 |
– |
– |
104,429 |
|
Sesa Resources Limited |
– |
67,609 |
– |
67,609 |
|
M/S Velingkar Brothers |
– |
44,264 |
– |
44,264 |
|
Shri Voikunta Kadnekar (Late) |
25,219 |
– |
– |
25,219 |
|
Rajesh Timblo |
10,944 |
– |
11,300 |
22,244 |
|
Timblo Mining & Infrastructures |
16,813 |
– |
– |
16,813 |
|
Emco Goa |
– |
– |
11,080 |
11,080 |
|
Grand Total |
1,298,280 |
735,355 |
147,673 |
2,181,308 |
Qty in MT
Source: DMG Government of Goa, SteelMint Research
In Nov’13, the Supreme Court had allowed to sale 15 MnT of Iron ore stockpile, which was mined before the enforcement of ban. The raw material is laying at various sites in the state that’s 10.8 MnT at mines, 4 MnT at jetty and about 0.2 MnT at various ports. 7.7 MnT of ore is still to be offered for sale.
India was ranked as the world’s 3rd largest Iron ore exporter before the imposition of mining bans in Goa. The country had exported 14.4 MnT Iron ore in FY14. It is anticipated that the exports will further decline to nearly 12 MnT this fiscal.
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