India: MSTC to conduct Auction for Iron Ore Sale

Metal Scrap Trade Corporation (MSTC) invites bid for sale of Iron ore from different Iron ore mines/stockyard at Karnataka.

Material will be available for sale on “As is Where is” basis.

The e-auction is for registered Steel, Pig iron, Pelletization, Sponge iron and Beneficiation plants which have been wholly/partly dependent on Iron ore from Karnataka for their own use.

The three auctions are scheduled on the same day i.e. on 23 Apr, 2014 at 12.00 hrs, 14.00 hrs & 16.00 hrs.

Auction 1

• Iron ore fines: 120,000 MT
• Iron ore lumps: 128,000 MT
• Total quantity: 248,000 MT

Bid opening time: 12.00 hrs on 23 Apr, 2014

 Auction 2

• Iron ore fines: 192,000 MT
• Iron ore lumps: 59,000 MT
• Total quantity: 251,000 MT

Bid opening time: 14.00 hrs on 23 Apr, 2014

 Auction 3

• Iron ore fines: 932,000 MT
• Iron ore lumps: 216,000 MT
• Total quantity: 1,148,000 MT

Bid opening time: 16.00 hrs on 23 Apr, 2014
Bid Submission Due Date: Before 10.00 hrs on 23 Apr, 2014

MSTC is also conducting two auction for sale of Iron ore on 29 & 30 Apr, 2014

Royalty, Forest Development Tax, Sales tax, Cess and other statutory duties and levies etc applicable at the time of supplies will be extra and payable by the successful bidder.

Note:
Private miners of Karnataka have kept base price of Iron ore  high constantly against NMDC since December, FY13 owing to which buyers are not interested in purchase. About 29 MnT Iron ore has been sold in FY14 in which JSW is the biggest buyer of Karnataka’s e-auction.