According to market sources report to SteelMint, southern India based pellet maker – MSPL, has won the iron ore block namely “Lakshmi Narayan Mining Company”, and was chosen as preferred bidder for the same.
The mine has geological resources of 14.71 MnT with average grade of Fe 52.91%. The mine is located in Bellary district of Karnataka.
As per sources, this mine block has seen aggressive bidding and the H1 bid crossed 100% of the average reserve price.
The other bidders for the same mine block include JSW Steel, Kalyani Steels, Kirloskar Ferrous Industries, Minera Steel & Power, SLR Metaliks and Vedanta.
Prior to this, JSW Steel had won “Rama Rao Paol” iron ore mine block quoting 90.82% of the average reserve price.
Out of the seven mines, which experienced bidding in Karnataka’s mine block auctions, preferred bidders for two (i.e. JSW Steel and MSPL) have already been announced and the remaining five mine blocks include Karthikkeyas Manganese, Hothur Traders, VS Lad & Sons, and two blocks of Tunghabhadra Minerals
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