On February 28 (Thursday), NMDC is to e-auction a total of 388,000 MT of Iron ore (lumps and fines) to steel industries located in the state of Karnataka, from its Donimalai and Kumarswamy mines.
Quantity to be offered from Donimalai mines:
Iron ore lumps: 100,000 MT
Iron ore fines: 80,000 MT
Low grade Iron ore fines: 48,000 MT
Quantity to be offered from Kumarswamy mines:
Iron ore calibrated lumps: 80,000 MT
Iron ore fines: 80,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
In the latest e-auction in Karnataka, held on February 22, NMDC was able to sell out 66% (256,000 MT) of the total quantity (388,000 MT).
An NMDC official told SteelMint that Iron ore is being purchased by Karnataka based steel makers as per requirement basis only, so as to keep mills running at minimum level.
From March 8, NMDC will e-auction Iron ore from its Donimalai mines through advance e-auctions.
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