Odisha mine auctions 2020 is underway. Today Roida II iron ore mine was put under hammer in which Narbheram Power & Steel emerged as preferred bidder, shared market sources.
The mine fetched highest bid of 90.9% premium in the final * round. Other prominent bidders were Shyam ores, Bhagwati Power & Steel, API Ispat, Super Smelter, and Gallantt Ispat etc.
Roida II is one among the 20 mines that are going to expire on Mar’20 and has been put up for auction. The mines is spread in an area of 74.867 Hects, out of which 45.751 Hect is mineralized and 29.116 is non-mineralized area.
Projected Resources, a total of 29.387 MnT iron ore. The mine has EC limit of 3.5 MnT and produced around 2.2 MnT in FY19. Earlier lessee of the mine was K.N Ram & Co.
Narbheram Power & Steel is a part of the Atha group which also owns KN Ram mines.
*Correction: Highest bid in final round was 90.9% which was earlier written as technical round.
Leave a Reply