About 1.15 million tonne (mt) of iron ore will be up for
grabs in the fifth round of e-auction in Karnataka where there is a ban on
mining of the ore.
While miner NMDC is offering 444 kilo tonne, Sesa Goa is
selling 416 kilo tonne. According to MMTC, the nodal body for the e-auction,
NMDC has put on offer of 236 kilo tonne of fines and 208 kilo tonne of lumps,
while Sesa Goa is offering 288 kilo tonne of fines and 128 kilo tonne of lumps.
The remaining quantity is being offered by two smaller
companies, including Mineral Exploration Ltd. The first four rounds have seen
close to 26% of the total volume offered remaining unsold because of high
reserve prices.
“Despite large quantities being auctioned, high reserve
prices and issues in timely shipment of the ore have been a cause of concern.
However, as we go ahead, issues will gradually smoothen out,” said Bikash
Bhalotia, metals analyst with brokerage Pinc Research.
About 3.4 mt ore has been sold under the e-auction that
started on September 14.
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