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Odisha Completes Mineral Auction


Odisha Government has successfully auctioned at least 23 Iron, Manganese and Chrome Ore Blocks having resources worth Rs.4.87 Lakh Crore.

With Government of India asking the State Government to go for auction of those Mineral Blocks, which term was ending on 31 March, 2020.

“This is one of the biggest auction of its kind and Odisha stands top among the other States” said a senior official in the Department of Steel and Mines.

Raj Kumar Sharma, ACS Steel and Mines, who chalked out the strategy to go for auction of 23 Mineral Blocks able to make it successful while the State getting one of the highest premiums like 144 Percent in one of its Mineral Blocks-Guali Iron Ore Block, which ended on 18 March.

“Meticulous planning and execution of auction process in a professional manner has resulted in scripting success”, said the officer.

While Jharkhand, Karnataka and Madhya Pradesh are far behind in taking up auction of Mineral Blocks, Odisha has successfully conducted auction process without much hassles, admit officials.

Out of 23 Mineral Blocks, 11 are in Keonjhar, 08 in Sundargarh 03 in Jajpur and 01 in Mayurbhanj.

So far resources are concerned, Iron Ore Blocks contain 1716.92 Million Ton, Manganese 8.77 Million Ton and Chrome Ore having 104.96 Million Ton, which was worth Rs.4,87,082.55 Crore according to official estimates.

While auction process started for two Chromite Blocks in 31 July, then on 4 October second round of auction process started, which was cancelled, and later NIT was issued on 6 December.

For Sukinda Chrome Ore and Guali Iron Ore, NIT was issued in January, which was completed on 17 March.

Sukinda Chrome Block in Jajpur District having 406 Hectare having 92.55 Million Ton deposit went to TS Alloys with a premium of 93.75 Percent.

TS Alloys is a subsidiary of Tata Steel, which gained the control of Sukinda Chromite Mines having worth of Rs.70,929.12 Crore.

SimilarlyGuali Iron Ore Block auction came up with a floor price of 105 Percent ended in 144 Percent, which went to Jindal Steel and Power Limited (JSPL) on 18 March.

Guali Mineral Block in Keonjhar district is 355.026 Hectare is having a deposit of 198.74 Million Ton of Ore is worth Rs.39877.77 Crore.

This will be a captive mines of JSPL, the Steel Major, which has set up 06 Million Ton Steel Complex at Angul will be expanding the Plant capacity to 20 Million Tons in near future, said sources.

The premium for iron ore mines in Odisha, which ranges between 90 percent and 140 percent, is greater than the average premium fetched in auction in Karnataka, Jharkhand and Madhya Pradesh.

While Odisha has been able to auction 23 Mineral Blocks, Jharkhand and Madhya Pradesh has been able to auction one each and Karnataka has been successful in auctioning 12 Mineral Blocks, officials say.

In fact Odisha did biggest auction with highest Premium returns, which will fetch rich returns in future for the state, officials say.



 


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