Odisha Mining Auction: Rungta Makes Successful Debut, Tata Bags Greenfield Block

Bhubaneswar: In its first successful bidding, Rungta Mines Limited has won Jumka Pathiriposhi Pahar iron ore block in Odisha’s Sundargarh district at a premium of 110.15 per cent.

According to official sources, MSPL Ltd, Aditya Birla Group’s Essel Mining, ArcelorMittal, JSPL, Shyam Metalics and Vedanta had also bid for the virgin block in the Koira mining circle.

The virgin mine has an area of 1.57 sq km with explorations done up to the G2 level. It has an estimated iron ore resource of 140.28 mt with average grade of 56.14 per cent.

Notably, Rungta didn’t win a single mining block in the auction of 24 mines whose lease period expired before March 31, 2020.

Earlier, Tata Steel bagged Gandhalpada iron ore block in Keonjhar district by offering the highest premium of 141.25 per cent.

The green field iron ore mine has an area of 2.41 sq km with explorations done up to G2 level and geological resource of 314.37 mt of average Fe at 60.48 per cent.

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