NMDC’s 11th Advance Iron ore e-auction for Donimalai mines in the states of Karnataka will be held on 13 Jan, 2014. The total quantity of Iron ore offered for sale in e-auction is 380,000 MT.
In 11th advance e-auction the total Iron ore offered by NMDC up by 20,000 MT in comparison to last advance e-auction. Iron ore Lumps offered quantity increased by 36,000 MT and Fines decreased by 16,000 MT.
NMDC`s advance e-auction received a very good response by the bidder as 98% of Iron ore offered through advance e-auction was sold. In Q3 total 1.2 MnT of Iron ore was offered through advance e-auction and JSW was the biggest buyer in advance e-auction purchase of 0.8 MnT of Iron ore.
MSTC`s monitoring committee will conduct the bidding on behalf of NMDC. Auction will commence at 15.00 hrs IST and conclude by 17.00 hrs IST. The Inspection of material will take place on 06-12 Jan, 2014
Total quantity of Iron ore offered for sale:
Iron ore lumps: 180,000 MT, Fe 62.5, Moisture4-6%, Undersize up to 15%
Iron ore Fines: 200,000 MT, Fe 60, Moisture 6-8%
Weekly Schedule:
Week 1 (18-24 Jan’14)
- Iron ore lumps: 48,000 MT
- Iron ore Fines: 48,000 MT
Week2 (25-31 Jan’14)
- Iron ore lumps: 44,000 MT
- Iron ore Fines: 52,000 MT
Week3 (01-07 Feb’14)
- Iron ore lumps: 48,000 MT
- Iron ore Fines: 48,000 MT
Week4 (08-14 Feb’14)
- Iron ore lumps: 40,000 MT
- Iron ore Fines: 52,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
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