By Our Correspondent
BHUBANESWAR: Revised auction for Purheibahal Iron Ore Block in Odisha , which was began on Thursday at a premium of 83.25%, where it closed due to technical problem earlier and till last reports came at 02.14AM on Friday, it touches at 124% with Jharkhand’s Chaibasa Headquarters’ , Rungta Mines Limited, winning the block at a premium of 124%.The virgin mine has an area of 64.337 hectares (ha) with explorations done up to the G2 level. The mine has total geological resources of 44.04 million tonnes (mn t) Fe content (at Fe 55% cut-off) and 2.76 mn t (at Fe 45-55% cut off).
Earlier, auction was postponed on September 24 midway due to technical faults. It was the 9th block of the total 11 put for auction. Rungta Mines Limited, AMNS, Eseel Mining, Ramgad Minerals, TP Sao and Sons, Amalgam Steel and Shyam Metaliks,were in race with Rungta Group was heading the list in financial bidding for Purheibahal Iron Ore Block and finally bagged it in auction. RML, had already bagged 2 virgin blocks, earlier, with now Purheibahal Iron Ore Block, RML’s figure touched at 3 in the second phase of auction. Earlier, 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%.
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.
It is notable that the Rungta’s sponge-making capacity has increased from 1.12 mntpa a couple of years back to the current 1.48 mntpa. Rungta Group has sponge plants in Jharkhand (0.66 mntpa) and Odisha (0.81 mntpa).
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, got hold on Odisha’s mining circle again with 3 new blocks, taking the tally of the Company to 5 blocks in the State.
The State Government has already auctioned 9 blocks of the total of 11, while it has cancelled the auction of Teherai Iron and Manganese block due to less participation. As per tender paper, if the total number of technically qualified bidder is less than 3, no technically qualified bidder shall be considered as qualified bidder, . Explored up to G-2level, the block has total geographical resources of 19.87 million tonnes of Iron Ore. The Odisha government had also put the auction of Karlapat iron ore and bauxite block on hold till further notice following a court order. With no more mines to go for auction as of now, many eyes on Purheibahal Iron Ore Block.
Till now, Raga Tradecon Pvt Ltd won Netrabandha Iron Ore at 139.50% . 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%). Earlier, Kashiv International won Dholtapahar Iron Ore Block 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%.
