State-owned MSTC, has e-auctioned about half of the
entrusted 250 lakh tonne of iron ore lying at Bellary, Chitradurga and Tumkur
in Karnataka.
In the latest auction, held on December 27, MSTC auctioned 12.72
lakh tonne at an average Rs 1,880/MT, generating total realization of Rs 239.16 crore.
Having conducted 17 “smooth and transparent” e-auctions to
the satisfaction of the supervising committee, MSTC has now sought mandate to
auction off iron ore mined in other states as well, said S K Tripathi,
chairman-cum managing director, MSTC.
In 17 online auctions so far, MSTC has sold 112.72 lakh
tonne of the Karnataka ore (containing both high and low iron content) for Rs 2,601
crore, generating a per-tonne realisation of Rs 2,307.50. Among the 50-odd
buyers are state-owned miner NMDC, JSW, Monnet Ispat and small-scale steel
producers, said Tripathi.
Some bidders have complained about the high reserve prices
relative to the quality of ore auctioned. However Mr. Tripathi said that such
concerns are “Minor in nature. Well, buyers have been mostly happy with the
outcome.”
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