OMC Chrome Ore Auction Receives Good Response

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 32,500 MT Chrome Ore on 5th Dec’17. Out of which 28,800 MT are friable ore and 3,700 MT are concentrate. The commodity put under the hammer was from COBP Kaliapani, South Kalaipani mines, and Sukrangi mines.

As per the sources, all the commodity was bid for except for 38-40 grade of Chrome Conc.

The bid received for the friable ore were above the base price at INR 10,145/MT for +54% grade, INR 9,588/MT for 52-54% grade, INR 7,526/MT for 48-50% grade, INR 7,127/MT for 46-48% grade and 5,468/MT for 44-46% grade.

While, the bid received for the Chrome Conc. were INR 8,773/MT for 50-52% grade, INR 8,112/MT for 48-50% grade and INR 7,611/MT for 46-48% grade.