India: MSTC Reduces Base Price by up to 25% for Manganese Ore Auction

State-owned, MSTC-Karnataka is to conduct the e-auction on 25 Nov’ 19. Amid low demand in the market, and continuous falling Manganese alloy prices, Karnataka Govt. /Monitoring Committee/Bangalore Reduced the Base Price of Manganese ore by up to 25% for November Auction. The total quantity offered for the e-auction from Sandur Manganese and Iron Ore Limited (SMIORE) is 31,752 MT. The Manganese (Mn) content of the material offered was in the range of 26-34 %.

The Manganese Ore as mentioned in the e-auction schedule is available on “as is where is basis” from Manganese Ore Mines/Stockyard, as mentioned therein, for sale through the online auction process. The physical location of the lot is indicated by markers of a suitable type and they are only indicative and not geometrical. According to information on MSTC’s website, the bid value quoted shall be the basic price in Rupees per WMT (Wet Metric Ton) for the mineral. Royalty, Forest Development Fee (FDF), GST (5% on Ore auction price; 18% on Royalty, FDF and Bulk Permit processing Fee), Cess and other statutory duties and levies, etc. applicable at the time of supplies will be extra and payable by the successful bidder.