Odisha mining corporation (OMC) has put forward an e-auction for 195,000 MT iron ore ( 75,000 MT lumps & 120,000 MT fines) to be held on 30 Dec’15. The material has been offered from Gandhamardan & Koira mines.
The company has cut base prices for all the material offered in the upcoming e-auction against previous auctions. Reduction of 25% in base prices of lumps (both 10-40 & 10-180 mm) and reduction of 28% in base prices of fines offered by Gandhamardan mines.
Also, there is reduction of base prices upto 61% in the low grade fines offered by Koira mines.
Base Price Comparisons of OMC Iron ore E-auctions
| Mines | Size (mm) | Fe (%) | Base Price on 30 Dec’15 |
Base Price on 19 Oct’15 |
Change (%) | Quantity (MT) |
| Gandhamardan | 10-180 | 65 | 1,500 | 2,000 | 25% | 25,000 |
| 10-40 | 62 | 1,750 | 2,350 | 25% | 50,000 | |
| -10 | 62-60 | 900 | 1,250 | 28% | 100,000 | |
| Koira Mines | -10 | 56-52 | 350 | 900 | 61% | 20,000 |
| Total | 195,000 | |||||
Qty in MT
Base prices in INR/MT on ex-mines basis; including of royalty
Source: SteelMint Research
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