Odisha Mineral Auction: Serajuddin & Co Retains Balda Iron Ore Block

Pic Courtesy: ET

Bhubaneswar: In the bidding for Balda iron ore block that went past midnight (2.41 am) on Monday, Serajuddin and Co emerged as the winner.

The company retained the block in Keonjhar district by committing to pay 118.05% of the sale value of ore to the Odisha government.

Of the 13 technically qualified bidders, Serajuddin & Co, ArcelorMittal India Pvt Ltd, JSW Steel, Adani Enterprises Ltd and Rungta Mines Ltd were in the final race.

One of India’s largest iron ore mines, Balda in Keonjhar has an estimated ore reserve of 200.11 million tonne. The mine has a capacity to produce 15.5 million tonnes of iron ore a year.

In October last year, the Directorate of Mines had invited tenders for 16 mineral blocks cleared by the high-level committee of the Odisha government for auction.

In the ongoing auction, JSW Steel has already bagged two mines — Nuagaon and Narayanposhi — with a total reserve of 980 million tonnes, ArcelorMittal India Pvt Ltd won the third iron ore mine notified for auction in Odisha on Monday.