On February 26, CEC had taken a decision that NMDC will offer iron ore to steel industries based in Karnataka, from Donimalai mines, through advance e-auctions w.e.f March 8.
NMDC is offering 496,000 MT of iron ore through its first advance e-auction, details of which are mentioned below:
Week 1 (March 15-21):
Lumps: 40,000 MT Fe% 63.5 Moisture 4-6%, Undersize Upto 10%
Fines: 84,000 MT% 62, Moisture 6-8%
Week 2 (March 22-28):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
Week 3 (March 29-April 4):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
Week 4 (April 5-11):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
NMDC is to inform CEC regarding all the details about quantity and others, which will be finalized by CEC then. NMDC is free to decide on the base price.
“The successful bidders will be required to make full payment of the lots purchased by them at least seven days before the start of the week in which the delivery is due to be made except for the first week when the payment will have to be made four days before the week in which the delivery is to be made,†M K Jiwrajka, member secretary, CEC, said.
For timely evacuation and supply of iron ore to steel mills, the above decision was taken.
The sale price payable by the buyer will be equal to the floor price of the grade of the iron ore supplied plus an amount equal to the percentage by which the sale price offered for the indicative grade is above the floor price of the indicative grade.
The permissible moisture content will be between four and six per cent in case of lumps and six and eight per cent for fines. Whenever the buyer purchases more than one lot in the advance e-auction, the amount payable by the buyer will be based on the weighted average of all the lots purchased by him.
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