OMC Chrome ore auction receives a healthy response as more than 90% of the auctioned commodity (Conc. & Friable) was bid for.
State-owned, Odisha Mining Corporation (OMC) recently conducted an e-auction for sale of 46,790 MT Chrome Ore on 6th Nov’17. Out of which 28,600 MT are friable ore, 3,900 MT are concentrate, 10,330 hard lump, 1,220 MT Chips and 2,740 Fines. The commodity put under the hammer was from COBP Kaliapani, South Kalaipani mines, Sukrangi mines and Bangur Mines.
As per the sources, out of 32,500 MT of (Chrome Conc. & Friable Ore), around 30,700 MT were bid for. Among these, only 38-40% grade Chrome Conc. from COBP Kaliapani received no bid.
The bid received for the friable ore were above the base price at INR 11,105/MT for +54% grade, INR 10.201/MT for 52-54% grade, INR 8,642/MT for 48-50% grade, INR 7,093/MT for 46-48% grade and 5,851/MT for 44-46% grade.
While, the bid received for the Chrome Conc. were INR 8,743/MT for 50-52% grade, INR 8,249/MT for 48-50% grade and INR 8,048/MT for 46-48% grade.
Commodities auctioned from Bangur Mines did not receive any bids as the buyers were reluctant to spend on the GSP system that they are supposed to install on the vehicles. SteelMint learned from a source that as per the norms of GoI, all the transportation mediums must have GPS installed in them but transport union is against the same causing a logistical issue. Moreover, for such a low quantity from Bangur Mines, the buyers are unwilling to pay a lump sum for the GPS systems.
Leave a Reply