Odisha Mines Auction: Patnaik Minerals Bags Mahulsukha Block At 92.70% Premium

New Delhi: Patnaik Minerals Pvt Ltd bagged Mahulsukha iron ore and manganese mines in Odisha, which went under the hammer, on Saturday.

Seven mining companies– TP Sao, LTA, GV Mines, Freegrade, Yazdani, Patnaik Minerals and Shyam Ore – were in the fray for this composite block with an estimated reserve of 32.81 MT (iron ore) and 0.731 MT (manganese).

Patnaik Minerals emerged winner by committing to pay 92.70 per cent of the average sale to the Odisha government.

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).