India: Iron Ore E-Auction in Karnataka on 19th October'13

Iron ore E-Auction is going to be held in Karnataka on 19^th October, which is being conducted by MSTC (Metal & Scrap Trading Corporation Ltd) on behalf of various mines and stock yards in Karnataka.

The total quantity of Iron ore offered for sale is about 1,478,000 MT. Auction will commence at 14:00 HRS IST and Conclude by 16:00 HRS IST.

Inspection of material will take place between 12.10.13 to 18.10.13

Iron ore offered for sale:

Iron ore fines 24,000 MT

Iron ore Lumps 1,398,000 MT

ROM 56,000 MT               

Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable