Patnaik Minerals bags Mahulsukha Block

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By Anurjay Dhal

BHUBANESWAR: Patnaik Minerals Pvt Ltd of SK Patnaik late on Saturday night bagged Mahulsukha Iron Ore and Manganese Mines, earlier held by AMTC (P) Ltd of Kolkata based N Saraf. It was the 9th  of the 19 enlisted mines went under the hammer. Patnaik Minerals emerged winner by committing to pay 92.70 per cent of the average sale to the Odisha government.Nadidih iron ore block held by RML Group has been listed for auction next on Sunday.

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

Sao has filed the IPO quoting highest 77 per cent followed by LTA 76.70 per cent, GV Mines 76.70 per cent, Freegrade 76.15 per cent, Yazdani 57.55 per cent, Patnaik Minerals 57 per cent and Shyam Ore 56 per cent. But finally, Patnaik Minerals Pvt Ltd got it.

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).

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