odisha iron ore mines auction news

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The rates for domestic sale of Iron, Chrome and Manganese Ores are decided on e-auction basis. JSW Steel acquired Odisha’s largest iron ore block, the Nuagaon mine, with estimated reserves of around 790 million tonnes (Mt) followed by Narayanposhi iron block with 190 MT reserves and Ganua iron ore mine with 118Mt reserves. India's Odisha starts auction of iron ore mines. Non-operationalisation of these mines has created an acute shortage of iron ore in the country, the mines … The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. India's eastern state of Odisha has put one of the country's largest iron ore blocks up for auction, as the state begins the process of finding new owners for several mining leases that will expire on 31 March next year. of Odisha. The projected iron ore resource is 39.4 million tonnes (Mt). India-based JSW Steel has reportedly secured a second iron block in the Indian state of Odisha, which has the capacity to produce more than 190 million tonnes (Mt) of iron ore. JSW Steel has secured Narayanposhi iron block in Odisha as part of an auction. The Indian steelmaker acquired the four iron ore mines - Narayanposi, Ganua, Nuagaon and Jajang - in Odisha, with iron ore reserves of around 1.13 billion tonnes, in February 2019, according to the report. Marking an important transition for the sector since the Narendra Modi government amended mining laws in 2015 to introduce the auction system to allocate mining licenses Odisha is inviting bids for 20 iron ore and manganese mines in the state starting October 4. The Bidders are advised to … The Sale of ore to buying units/industries is restricted to their capacity and verification of the units/industries is done to ascertain their requirement of Ore. Chrome ore is sold to Ferro-chrome units, Chemical units and Refractory units. Bhubaneswar: The Odisha government has decided to auction 11 mining blocks during the 2021-22 financial year. The company also operates a 6 million mt iron ore pellet plant at Paradip in Odisha, the statement said. Odisha has the largest number of old merchant mines, of the more abundant iron ore and the comparatively scarce chromite, that are set to lapse on March 31, 2020. These will find new owners as the country transitions to an auction-only regime. The Odisha administration has set in motion the process to organise auctions for mining leases for as many as 24 iron ore mines. India's eastern state of Odisha has put one of the country's largest iron ore blocks up for auction, as the state begins the process of finding new owners for several mining leases that will expire on 31 March next year. allocation of mineral blocks or grant of mining leases through e-auction process. It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. ... 2020 affecting the industries, vesting orders have been issued to 19 mines in Odisha. Credit: Bishnu Sarangi from Pixabay. A high-level committee of the state government has decided to issue the Notice Inviting Tenders (NITs) for auctions of 11 more virgin blocks on August 16. ... Odisha Iron Ore(3), Limestone(1),Manganese Ore(1) Rajasthan Limestone(5) Mineral wise Nos. In 1961, the company became wholly owned by the Govt. Odisha, the country's largest iron ore producer, has found buyers for 21 of the 24 operational mines whose leases are expiring while auctions for three remaining mines will be concluded soon, a senior official of Odisha's mines ministry told Argus. The Odisha government is all smiles. Technically Qualified Bidders announced by Government of Odisha in respect of the Tender Documents issued vide NIT dated September 18, 2019. The auction of iron ore merchant mines expiring on March 31, 2020, has been successfully completed by the Odisha Government and the Letter of Intents to the successful bidders are being issued. Express News Service. ... News No: 6584 Date: 2019/10/09 - … Odisha has seen the auction of first iron ore mine following last year’s new MMDRA, with government expected to earn a revenue of ₹11,328 crore. Discussions centred on resolving the issues regarding operationalization of the auctioned iron ore mines in Odisha where production and dispatch has … All 24 mines in Odisha and four mines in Karnataka were auctioned last year. Odisha Government-owned Orissa Mining Corporation rolled-out an e-auction of iron ore, organised by MSTC Ltd. The firm has acquired the iron ore mine in the auction of Odisha blocks. The leases in those cases, allotted on nomination basis, would terminate on March 31, 2020. BHUBANESWAR: The state government issued notification for online auction of 10 iron ore and iron ore & manganese blocks for auction late Friday evening. Now, 329 mines across the country will see the end of their terms in March 2020. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. According to mines director Debidutta Biswal, the auction process of these 11 mining blocks of iron ore, manganese, graphite, limestone and dolomite will … Odisha Congress president Niranjan Patnaik (File photo) As the Odisha government begins the process to auction iron and manganese mines, state Congress president Niranjan Patnaik on Monday appealed to Chief Minister Naveen Patnaik to retain the biggest mines with the state government. "We are participating in ongoing auctions of mines in Odisha," Dilip Oommen told PTI on the sidelines of an industry event in New Delhi on Wednesday. The Odisha government is all smiles. According to a release by MSTC, 3.65 lakh tonnes of iron ore lumps worth approximately ₹175 crore were auctioned on October 27 and 4.17 lakh tonnes of iron ore fines were sold on October 28 at approximately ₹122 crore. Dharmendra Pradhan emphasizes on for early operationalisation of the auctioned Iron Ore Mines in Odisha Notably, the lease of these mines had lapsed on 31st March 2020, pursuant to … The major minerals mined by OMC are chrome, iron and manganese ore which cater to the requirement of mineral based industries such as steel, sponge iron, pig iron, ferro-manganese, ferro-chrome, etc. Indian laws mandate auction of privately-owned mining leases held by merchant mining firms. "The estimated iron ore resources of the aforesaid mines are around 1091.835 MT," it said. In February 2020, AMIPL was selected preferred bidder for the Thakurani iron ore mine licence following an auction process conducted by the Odisha state government, in … Status of Indian Iron Ore Mines Post Auctions Odisha’s iron ore mining industry is undergoing a turnaround. The process is time-consuming, as it involves a good number of clearances – forest-related and environmental. Block Allocated Limestone 22 Iron Ore 11 Gold 3 It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. JSW Steel won Odisha’s largest iron ore block in the auction. The e-auction, the release stated, will ensure enhanced … The auctions were held between January 31 and February 4. In a stock exchange filing, JSW Steel said: “The highest final offer price by the company to become a ‘Preferred Bidder’ is 110% of average monthly prices of iron ore … In February, the AMIPL was selected preferred bidder for the Thakurani iron ore mine license following an auction process conducted by the Odisha government, in which AMIPL agreed to pay a 107.55 per cent premium per tonne, as well as other royalty and duties, ensuring strong revenue contribution to the state. One merchant chromite mine under Tata Steel's leasehold is proposed to be reserved for an Odisha government owned PSU. The mineral blocks are put on auction as lease period of these non-captive blocks would end on 31st March, 2020. In February this year, AMNS secured the iron ore mine through competitive bidding, while initially production from this asset will be around 5.5 million mt per year and subsequently ramped up to 8 million mt per year, the company said. both in … Undeterred by the continuing face-off with the Union mines ministry over mineral lease area limits, the Odisha government has decided to revive auctions of iron ore blocks. ArcelorMittal Nippon Steel India Ltd. is participating in the ongoing auctions of iron ore mines in Odisha to securitise its iron ore requirements, its chief executive officer has said. of blocks allocated Mineral Auctioned Nos. Of the balance 21 leases headed for auctions, 10 are iron ore mines, four manganese, one chromite lease and seven mines with co-existence of iron and manganese ore deposits. Mining operations began in July 2020 but were disrupted by the Covid-19 pandemic. 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