Steel Authority of India Ltd (SAIL) conducted an auction today for 40,000 t of iron ore tailings (Fe 58% indicative) from its Barsua iron ore mines in Odisha. The base price for the material offered was INR 2,900/t ex-mines inclusive of royalty, DMF, NMET and the additional amount mentioned in the MMDR Amendment Act. According to latest updates, the tenders failed to fetch any response as the iron ore being offered was of lower grades, SteelMint notes.
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