Odisha Mining Corporation (OMC), a government of Odisha undertaking, has fetched high bids in its tender for sale of Iron ore.
OMC had floated a tender on 01 Sep, 2014 for sale of sized CLO & Iron ore Fines available at Daitari region for which it has received high bids.
In its last floated tender for sale of Iron ore Fines for Q3 FY15 from Daitari mines, the company has fetched higher bids by INR 500/MT against Q2 FY15.
H1 Prices of OMC Daitari Mines
|
Item No. |
Size |
Grade Fe (%) |
Qty Tendered |
H1 Bidder |
Prices |
|
D1 |
10-40 mm |
62 |
15,000 |
Elecrosteel |
5,101 |
|
D2 |
– 10 mm |
60-62 |
15,000 |
Elecrosteel |
2,901 |
|
D3 |
– 10 mm |
64-62 |
15,000 |
Elecrosteel |
3,101 |
Qty in MT
Prices including royalty
Source: SteelMint Research
Recently, the Odisha government has issued orders to stop mining at 6 non Iron ore mines including those of SAIL & OMC. As per the amendment in the mining law, no mining lease will be renewed after the expiry of 2nd renewal term or 40 years of operation; whichever is earlier.
OMC’s Daitari mines, which was incorporated in the year 1966, has already completed 40 years of operation (2006) and now if the amendment in the mining law is brought into action, it is likely to get closure notice. This might exaggerate the raw material scarcity and affect units namely Visa Steel, NINL, Aarti Steels and Bhushan Steel, which source raw material from it.
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