Odisha Mines Auction: Goa-Based Fomento Bags Nadidih at 141.25 % Premium

New Delhi: Nadidih iron ore block has been bagged by Sociedad De Fomento Industrial Pvt Ltd.

The mine with an estimated ore reserve 20.48 MT went under the hammer on Sunday and had as many as 10 mining companies bidding for it.

The Goa-based mining firm emerged winner by committing to pay 141.25 per cent of the average sale to the Odisha government.

The lease of the block was earlier with Bonai Industrial Company Ltd (BICO).

This was the tenth of the 19 mines enlisted for auction.

Patnaik Minerals Pvt Ltd bagged Mahulsukha iron ore and manganese mines in Odisha, which went under the hammer, at a premium of 92.70 per cent on Saturday.

On Friday, Kolkata-based Khatua Narbheram & Co. retained the Roida II iron ore mines at a premium of 90.90 per cent.

JSW has won four blocks – Nuagaon (January 31),Narayanposhi (February 2) and Ganua (February 5) and Jajang (January 6) – with total ore reserve of 1,138.34 million tonnes.

Shyam Ore bagged the Jilling-Langalota iron ore block in Odisha’s Keonjhar district by committing to pay 135 per cent of average sale price to the Odisha government on Wednesday (February 5).

On Tuesday (February 4), Serajuddin and Co retained Balda iron ore block during the auction that went past midnight (2.41 am). ArcelorMittal India Pvt Ltd had won Thakurani iron ore block notified for auction in Odisha on Monday (February 3).