ESL Bags Second Mineral Block In Odisha Mining Auction

Bhubaneswar: ESL Steel Ltd has bagged Nadidih (Feegrade) iron ore and manganese mine in Odisha’s Sundargarh began at 92.3 per cent premium.

This means ESL will have to pay Rs 92.3 to the state government for the sale/transaction of every Rs 100 of iron ore from the block.

The lease of the composite block with an estimated reserve of 15.06 MT iron ore and 0.059 MT manganese was with Feegrade and Co Pvt Ltd.

ESL had won Nadidih iron ore block (BICO) in Sundargarh district by committing to pay a premium of 95.6 per cent on the second day of the bidding on Sunday. The mineral block, spread over 73.85 hectares, is one of the oldest in Koira mining sector.

Also Read: JSPL Bags Kasia Block at 118% Premium, ESL Wins Nadidih Mine

Jindal Steel and Power Limited (JSPL) bagged the Kasia iron ore at a premium of 118.1 per cent on Saturday when the auction for 11 mineral blocks began.

Odisha has received 123 bids for the 11 mineral deposits. Jindal Steel and Power Limited, Adani, JSW, Tata Steel, ArcelorMittal, Essel Mining and Industries Limited, Rungta Mines Ltd, MSPL, Vedanta and NMDC are in the race, official sources said.

Also Read: Mining Auction Resumes, 7 Companies To Bid For Kasia Iron Ore & Dolomite Block

Meanwhile, the Directorate of Mines has put on hold the auction of Karlapat iron ore and bauxite block in Kalahandi district in compliance with the September 9 interim order of the Orissa High court.

Environmentalists had also raised concern over mining the Karlapat bauxite block near Karlapat Sanctuary, a designated elephant corridor.

Also Read: Auction Of Virgin Karlapat Bauxite Block In Odisha Put On Hold