Fomento bags Nadidih Iron Ore & Manganese Block

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By Anurjay Dhal

BHUBANESWAR: Fomento bags Nadidih Iron Ore & Manganese Block(February 10) at a premium of 141.25 held by RML Group, sources said on Monday. Ten mining companies were bidding for Nadidih iron and manganese mine, covering an area of 121.405 ha, in Odisha’s Sundargarh district but Fomento bags Nadidih Iron Ore & Manganese Block at a premium of 141.25. One of the oldest mine in the Koira mining sector, it has been in operation since January 1961.

Yazdani International (P) Ltd had filed the IPO quoting highest 81.65 per cent followed by TP Sao & Sons Pvt Ltd (72.50 per cent), Brahmani River Pellets Ltd (73 per cent), Lal Trades & Agencies Pvt (72.50 per cent), Vishal lpg Fuels Pvt Ltd (66 per cent), JSPL (63 per cent), ArcelormittalMittal (55 per cent) and Fomento (52.20 per cent), among others.This was the tenth of the 19 mines enlisted for auction.

Apart from Jajang block, which was already auctioned, RML and its subsidiaries Bonai Industries Company Pvt Ltd, Freegrade Company Pvt Ltd owned Nadidihi Iron Ore block also lost, with this, RML Group lost two mines, rest Nadidihi, Rengalibeda & Nadikasira Iron Ore and Manganese Block, Kolmong and Teherai Iron Ore block, which will be put for auction in next few days.

Besides RML’s Mines, Gorumahisani Iron ore  of  M/s G.S. Mishra & Sons, Jaribahal Iron Ore of  M/s Patnaik Minerals Pvt. Ltd, Jururi Iron Ore of  M/s Kalinga Mining Corporation and Badampahar Iron ore 129.61 6.16 M/s Lal Traders &Agencies (P) Ltd.(Put on hold for Court case) are on line for auction.

Meanwhile, Patnaik Minerals Pvt Ltd of SK Patnaik late on Saturday night (February 8) 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.

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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