In the recently held mine block auction of 14 ‘C’ category mines in Karnataka, 7 mine blocks failed to generate adequate response. Karnataka government is planning to club these mine blocks.
The 7 mine blocks which did not receive adequate response from the bidders were – Nidhi Mining & Co., Ramgad Mines & Minerals, M.Srinivaslu, SB Minerals, BR Yogendranath Singh, N.Chennakesava Reddy and Mineral Mines and Traders.
These mine blocks could not attract much attention of the bidders owing to its far away location from the plants and low average grade (Fe content).
“Karnataka government is now working on clubbing these mines so that they become viable for the companies, especially for pig iron and pellet makers. The state will have to approach the Supreme Court for this as these 14 mines are the same ones that were allowed for auction,” the official said.
The remaining 7 iron ore blocks fetched bids from 10 firms including JSW Steel, Vedanta and NMDC.
~Sourced
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