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Odisha to put up 3 iron ore blocks for auction in January 2017-The 18th Guangzhou Int'l PLATE META Exhibition
8/23/2016 金屬板材展 -plate metal expo |
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Business Standard reported that the after readying to auction five blocks- a mix of limestone and manganese blocks for auctions, Odisha government has lined up three iron ore blocks and one bauxite deposit for auctions in January 2017 keeping in sync with its initiative to speed up auction of mineral blocks. In 2017-18, an additional eight mineral blocks in the state are expected to go under the hammer.
Odisha’s steel & mines minister Prafulla Mallick said that “The blocks in question have achieved the G2 level exploratory stage- a condition mandatory to make them eligible for auctions as per Mineral Auction Rules. A notification for auctioning these five blocks would be issued either at the end of August or early next month.”
The state cabinet recently approved the formation of Odisha Mineral Exploration Corporation as 100% subsidiary of its mining PSU- Odisha Mining Corporation. The company formed to speed up exploratory work of mineral blocks, would have an authorised capital of Rs 20 crore and initial paid-up capital of Rs 5 crore.
So far, only one iron ore block has been auctioned in Odisha. The Ghoraburhani-Sagasahi iron ore block already auctioned in the state has 99.54 million tonnes of iron ore including 84.92 million tonnes high grade ore of 63.23% iron content. Essar Steel emerged as the preferred bidder, quoting a premium of 44.35% higher than the reserve price.
-The 18th Guangzhou Int''l PLATE
META Exhibition
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