By Our Correspondent
BHUBANESWAR: Gandhalpada Iron Ore virgin Block, was the 4th Block among 11 put for auction on Wednesday, in which Financial Bid started at a premium of 88.5 % and till last reports came in till 6.29 AM on Thursday, the figure touched at 118.65%. Of the 7 Virgin iron ore blocks, Gandhalpada block in Keonjhar district has the highest ore reserve of 314.37 MT, for which all major players interested to bag it.
So far, Vedanta Group’s ESL bagged 2 blocks of Nadidih Iron Ore and Manganese Block (FEEGRADE at a premium of 92.30 % and Nadidih Iron Ore Block (BICO) at a premium of 95.6% while Naveen Jindal led Jindal Steel and Power Limited had bagged the Kasia Iron Ore-Dolomite Mines block under Joda mining circle in Odisha’s mineral rich Keonjhar at a premium of 118.1%.
Sources in Barbil in Keonjhar said, that both Tata and Jindal Steel and Power Limited, are trying very hard for Gandhalpada Iron Ore virgin Block for ,which premium may likely to touch 110% or more till the closer of the Bid.
The closer of Sarada Mines Pvt Ltd , forced JSPL to look for undisrupted raw material supply to Company’s largest Pellet Plant in Barbil in Keonjhar and as well as to the on-going expansion at JSPL’s Angul Steel Complex. SMPL has already moved Orissa High Court seeking extension of mining lease for a period of another 10 years, while the HC has deferred the hearing till October 27 over the petition of the Arjun Saraswat owned Mines Company.
With Kasia Iron Ore Block required no major clearances like forest and others following the new MMDR act, JSPL is all set to start its operation without any hurdles. JSPL had earlier surrendered its Guali Iron Ore Block, which it got in last auction, citing boundary issue and low grade minerals.
