The mine fetched a premium of 135%.
Odisha govt is auctioning iron ore mines that are due to expire in Mar’20. In the 6th mine put under hammer, Jilling Langalota mines received aggressive participation from bidders.
Outstripping other bidders,Shyam emerged as preferred bidder for the mine quoting a premium of 135%, as per sources.
The mine fetched highest bid of 80.7% in technical round. Other companies who participated for the block were – Adani, Serajuddin, Amalgam, Shyam, JSW, Forway, TP Sao & Essel Mining.
Essel Mining was the existing lessee of this mine and has EC limit of 6.28 MnT pa and resources of 79.122 MnT. It recorded production of 6.27 MnT in FY19 and 4.46 MnT in FY20(till Nov).
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