The Odisha Mining Corporation Ltd has decided to use the service of MSTC Ltd (a Govt. of India Undertaking) to conduct e-auction for selling off it’s (OMC) chrome ore on 24th Dec’19. The Odisha Mining Corporation Ltd intends to sell various grades of chrome ore (friable) produced at South Kaliapani Chromite mines and Sukrangi Chromite mines of OMC Ltd in the Sukinda valley of JK Road Region, Jajpur Dist Odisha. OMC kept the base prices same as compared to the previous month’s auction.
The quantity of high graded ores are continuously reduced since past two months. There are high chances of aggressive bidding for higher graded ores like previous month. A sentiment of pessimism is running down the market as the prices of Ferro Chrome keeps falling effectively W-o-W. Producers are cynical about the OMC auctions and feel that the auctions must change as with the present systems, ores are being booked at much higher rates than the viable process, and with the prices being low than the production cost for quite some time, it would be difficult for producers without captive mines and power to sustain in the market.
The total quantity offered for the e-auction from Sukrangi and South Kaliapani mines are 34,200 MT.
The Chrome Ore/Chrome Concentrate as mentioned in the e-auction schedule is available from Chrome Ore Mines/Stockyard, as mentioned therein, for sale through the online auction process. The bid value quoted shall be the basic price in Rupees per WMT (Wet Metric Ton) for the mineral inclusive of Royalty and exclusive of Cess and other statutory duties and levies etc. applicable at the time of supplies will be extra and payable by the successful bidder. For south Kaliapani and Sukrangi Mines, the minimum quantity to be bid is 100 MT, thereafter in multiples of 100 MT.
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