By Our Correspondent
BHUBANESWAR: Netrabandha Iron Ore virgin block was the 9th of the 11 mineral blocks in Odisha, on Tuesday put for auction with premium for the said block, started at 80.10 % and till last report came till 05.51 PM, it touches 139.50% and the block was won by Mumbai based Raga Tradecon Pvt Ltd. Sunil Ramgopal Nangalia and Raman Kumar Mishra are Directors of the Company. The virgin mine has an area of 74.370 hectares (ha) with explorations done up to the G2 level. The mine has total geological resources of 15.765 million tonnes (mn t) (Fe 55% cut off) and 1.5 mn t (Fe 45-55%). So far 8 blocks auctioned, auction held for for 9th block and was won by Raga Tradecon Pvt Ltd.
The companies were in race for Netrabandha Pahar West Iron Ore Block included JSPL, Rungta Mines Limited, Ramgad Mining and Minerals, TP Sao, Kashvi, Sri Jagannath, Bajrang Power, Lal Traders, Raga Tradecon, Shyam Steel, Saroj Patnaik, Tarini Minerals, Transtek, SN Mohanty, Vedanta, Bhushan Power, Sunflag and Neo Metaliks.Meanwhile, in a big surprise, 18 bidders had qualified for the block with the highest bid being around 80.1% by Karnataka’s Ramgad Mining and Minerals. Finally, Raga Tradecon Pvt Ltd won it by 139.50% till close of the auction.
Earlier, Kashiv, which had submitted highest bid of 82% for Dholtapahar Iron Ore Block and won it in auction in at 126.55% .While Rungta Mines Limited won Jumka Pathiriposhi Pahar Iron Ore Block at a premium of 110.15&%. and Chandiposhi Block at a premium of 113.10%. Tata Group had won Gandhalpada Iron Ore Virgin Block at a Premium of 141.25 Percent. 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 at a premium of 118.1%.
Meanwhile, confusion continues to haunt Odisha Mining circles of Joda and Koira in twin districts of Sundargarh and Keonjhar ,on Purheibahal Iron Ore Block . Sources said the block may face re auction as the premium amount not only surprising but also impossible task.The Odisha government had put the auction of Karlapat iron ore and bauxite block on hold till further notice following a court order.
