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Bhubaneswar: The Odisha government has annulled the auction process of Teherai iron ore and manganese block in Sundargarh district.
The Directorate of Mines said that the decision was taken since there were less than three technically qualified bidders for this composite mining block among the 11 put up for auction.
This is the second block to have been withdrawn from the ongoing auction process, which began on September 18.
On September 22, the auction of Odisha’s first bauxite block was put on hold in compliance with the September 9 interim order of the Orissa High court.
Also Read: Auction Of Virgin Karlapat Bauxite Block In Odisha Put On Hold
MINERAL BLOCKS
Of the blocks up for grabs, seven are iron ore blocks, two composite blocks of iron ore and manganese, one composite block of iron ore and dolomite and a bauxite block. Except for Nadidih (Bico), whose lease period expired before March 31, 2020, six blocks of Purheibahal, Chandiposhi, Jumka Pathriposhi Pahar, Dholtapahar, Netrabandha Pahar (West) and Gandhalpada are greenfield mines.
The other four are Kasia, having both iron ore and dolomite, Nadidih (Feegrade) and Teherai, which are composite iron ore and manganese blocks, and Karlapat, a bauxite mineral block.
THE AUCTION
On Saturday, Jindal Steel and Power Limited (JSPL) bagged the Kasia iron ore at a premium of 118.1 per cent. Seven companies were in the race for this mining block, spread over 194.19 hectare with geological resources of 278.04 million tonne of iron ore (having an average Fe grade of 63.2 pc) and 0.693 mt of dolomite ore.
The second day of the mines auction in Odisha saw ESL Steel Ltd winning Nadidih iron ore block BICO in Sundargarh district by committing to pay a premium of 95.6 per cent. 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
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.
In its first successful bidding, Rungta Mines Limited won Jumka Pathiriposhi Pahar iron ore block in Odisha’s Sundargarh district at a premium of 110.15 per cent while Tata Steel bagged Gandhalpada iron ore block in Keonjhar district by offering the highest premium of 141.25 per cent.
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, sources said.
Also Read: Odisha Mining Auction: Rungta Makes Successful Debut, Tata Bags Greenfield Block
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