By Our Correspondent
BHUBANESWAR: The financial bidding for Nadidih Iron Ore and Manganese Block (FEEGRADE) , which was started at a premium of 76% on Monday now reached at 91.35% till last reports came in till 6.20 PM on Tuesday. Nadidih Iron Ore and Manganese Block (FEEGRADE), was the third mines out of the total 11 blocks, put for auction.
Rungta Mines Ltd,ESL ,AMNS,Odisha Metaliks and Ramgad Mining and Minerals are in race for this block.
In last auction held, Vishal LPG Fuels Pvt Ltd had bagged Nadidih iron ore and manganese mine in Odisha’s Sundargarh by committing to pay 142.35 per cent of the average sale price to the Odisha government but failed to operate and debarred from participating in auction this time.
The lease of the composite block with an estimated reserve of 15.06 MT iron ore and 0.059 MT manganese was with Feegrade and Co Pvt Ltd, a subsidiary of Rungta Mines Limited Group.
Earlier, Earlier 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 118.10%.Vedanta Group’s ESL Steel Ltd wins the Nadidih Iron Ore Block (BICO) at a premium of 95.6% in Odisha.
