Nadidih iron ore mine was put under the hammer in which Vishal LPG emerged as preferred bidder at a premium of 142.35% shared market sources. The mine was reserved for merchant use.
The mine fetched the highest premium of 81.75% in the technical round. Other prominent bidders were Yazdani Steels, BRPL, Lal Traders, TP Sao, JSPL, ArcelorMittal, Easternrange and Ramgad Minerals & Mining.
Nadidih (Feegrade) iron ore mine 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 121.04 hects. The mine has reserves of 23.69 MnT and EC limit of 7.45 MnT pa iron ore. The miner produced 2.88 MnT iron ore in FY19.
Feegrade Co. Pvt Ltd was the erstwhile leaseholder of Nadidihi iron ore mine.
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