NMDC`s Donimalai and Kumarswamy mines in Karnataka are going to conduct an Iron ore e-auction on 22 Nov, 2013. The e-auction will be conducted under MSTC`s monitoring committee. Total quantity of Iron ore offered for sale is about 324,000 MT.
Auction will commence at Indian standard time between 15:00 HRS to 17:00 HRS. The inspection of material will take place from 18 Nov to 21 Nov, 2013
Iron ore offered for sale:
Iron ore Lumps: 216,000 MT
Iron ore fines: 108,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable
In the month of October, MSTC’s Donimalai and kumarswamy mines e-auctioned 1,044,000 MT of Iron out of which only 440,000 MT of material was sold. The main bidder was JSW Steel who purchased 76% of Iron ore sold out by NMDC in Karnataka e-auction.
Leave a Reply