Out of 6 iron ore mine blocks, auctioned so far in Karnataka, JSW Steel won 4 blocks, rest 2 bagged by MSPL.
Karnataka iron ore block auction is at its full swing showing good response from the bidders. In the latest update on the same, two more iron ore mine blocks have been successfully auctioned.
“Hothur Traders” iron ore mine block, having geological resource of 10.03 MnT with average iron ore content of Fe 54.41% was bagged by JSW Steel at final price offer of 100.10% of average reserve price. This is the 4th mine block won by JSW Steel.
Another block named “Karthikeyas Manganese”, having geological resources of 28.47 MnT with average iron ore content of Fe 55.33% was won by MSPL at final price offer of 111.10% of average reserve price. This is the 2nd mine block won by MSPL.
Thus, only one iron ore mine block i.e VS Lad & Sons is left to be auctioned, which is expected to be completed today i.e 6 Oct’16 , as the bidding for the same is under progress. The mine block has geological resources of 28.62 MnT with average iron ore content of Fe 56.69%.
Status of Karnataka iron ore mine block auctions
|
S. No |
Name of Mine |
Preferred bidder |
Floor price |
Final price offer |
| 1 | Rama Rao Paol
M L No:2621 |
JSW Steel | 61.22% | 90.82% |
| 2 | M/s Lakshmi Narayana Mining Company
M L No:2487 |
MSPL | 60.00% | 100.30% |
| 3 | Tungabhadra Minerals Pvt Ltd
M L No:2365 |
JSW Steel | 55.00% | 81.10% |
| 4 | Tungabhadra Minerals Pvt Ltd
M L No:2366 |
JSW Steel | 55.00% | 58.90% |
| 5 | Hothur Traders
M L No:2313 |
JSW Steel | 55.00% | 100.10% |
| 6 | Karthikeyas Manganese
M L No:2559 |
MSPL | 55.00% | 111.10% |
| 7 | V.S Lad & Sons
ML No. 2290 |
– | 56.22% | Bidding under progress |
Source: Karnataka DMG
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