By Anurjay Dhal
BHUBANESWAR: Call it Sidhartha Rungta fights back in Odisha Mining Auction. The merchant miner ,Rungta Mines Limited continued to give a jolt to big players on Virgin block auction. After Jumka Pathiriposhi Pahar Iron Ore Block, Rungta Mines Limited Bagged second block of Chandiposhi Block at a premium of 113.10 Percent, auction of which concluded at 1.28 AM on Monday.
Chandiposhi Iron Ore Block, which was the 7th block put auction in Odisha of the 11 on Sunday morning, with floor price started at 85.50% and till last reports came in, the figure reached at 113.10% till 01.28AM on Monday and the block was bagged by Rungta Mines Limited . The virgin block has an area of 131.58 hectares with exploration done up to G-2 level.
The block has total geographical resources of 35.86 million tonnes Fe content of 58.81% and 11.21 million tonnes Fe content of 47.67%. Karnataka based Ramgad Mining and Minerals submitted the highest bid of 85.50% while Rungta Mines Limited, JSPL, Bajarang Ispat, Amalgam Steel, TP Sao and Sons, KJS Ahluwalia, AMNS, Vedanta , Bhushan Power and SJSPL are among 11 bidders were in race for the block but RML won it by committing to pay premium at 113.10 Percent at the close of the auction. It was second win of RML in on going auction. Already 6 blocks auctioned, confusion going on over Purheibahal Iron Ore Block and 7th block of Chandiposhi put for auction and won by RML.
Earlier, Jumka Pathiriposhi Pahar Iron Ore Block was the 5th Mines Block put for auction with Jharkhand’s Chaibasa Headquarters’ Rungta Mines Limited, which had submitted highest financial bid of 86% for the said block and finally won it in auction at a premium of 110.15 Percent.
Jharkhand’s Chaibasa Headquarters’’ Rungta Mines Limited, seems, off late , became aggressive on virgin blocks and the Merchant miner, which had lost half dozen running blocks, in last and on-going auctions, getting hold on Odisha’s mining circle again with 2 new blocks, taking the tally of the Company to 4 blocks in the State.
It may be noted here that Purheibahal Iron Ore Block and as well as Chandipisi block, are more suitable for Rungta Mines Limited as its Kamanda plant close it . Both blocks shares a distance of 8 km and 4km from Koira in Sundargarh. Rungta Mines Limited (RML) is expanding its Integrated Steel Plant from 0.27 MTPA to 0.9 MTPA capacity at Kamanda village in Sundargarh district with a total investment of Rs 2135 crore, providing additional employment of 2289 people.
Works going on for Expansion of 0.127-MTPA Karakhendra steel plant of the RML to upgrade it to .606 MTPA crude steel along with installation of a power plant of 121 MW and expansion of.18-MTPA Karakolha sponge iron plant with DRI plant and 22 MW power plant. Both these plants Karakolha and Karakhendra are situated near Barbil in Keonjhar.
Earlier, Tata Group had won Gandhalpada Iron Ore Virgin Block at a Premium of 141.25 Percent. 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 09.56 PM on Thursday, the figure touched at 141.25% with Tata Group winning the block. 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%.
Meanwhile, confusion continues to haunt Odisha Mining circles of Joda and Koira in twin districts of Sundargarh and Keonjhar , after one of the 7 bidders put a miracle premium of 1,234% from the floor price started at 81% by Rungta Mines Limited for Purheibahal Iron Ore Block . Some believed, it was technical problem faced by MSTC while others believed, any of the 7 bidders might have done in mistake but till late night, the premium figure at MSTC website, which is conducting online auction, shows the same 1,234%. Rungta Mines Limited, AMNS, Eseel Mining, Ramgad Minerals, TP Sao and Sons, Amalgam Steel and Shyam Metaliks, were in race with Rungta Group heading the list in financial bidding. 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.
