Timeline: How are Odisha Iron Ore Mines Auction Lined Up in 2020? Experts interpret that winning a mine at a premium of 154 per cent means that the auction winner pays price of 154 tonne ore for a 100 tonne ore to the government, which is unsustainable. of India and the Govt. While the state government has been able to fetch higher prices for the natural resources by going the auction route, all is not well with the auction process. Launch of the Auction Process. The auctions are scheduled for the first week of August 2019. RBI’s Resolution Framework for COVID-19 Stress & its Implication for Downstream Steel Sector, New PCT Terminal by Q1’2021 to ease congestion at Chittagong port – Md Zafar Alam, CPA, Bangladesh to Add 1.5 MnT Steel Capacities in 2020, Ministry Invites Comment on Draft Rules, Proposes Existing Lessee to Vacate Area in 30 Days, JSW Steel Holds 21% Share of Merchant Iron Ore Supplies After it Won Jajang Mines, Increase in Tax Structure Pulled Down Bangladesh Scrapped Vessel Imports in 2019 – PHP. It would also be interesting to see how high premium fetched in recent auctions change prices in the near future. Find out more about cookies and how you can refuse them. "We are aware of the fact that 24 working mines will be closed in 2020. The auction of coal blocks for commercial mining which kickstarted on Monday saw Vedanta bidding the highest for a mine in Odisha, while Hindalco bid … Subscribe to Moneycontrol Pro at ₹499 for the first year and get access to exclusive offers. Odisha’s iron ore mining industry is undergoing a turnaround. This has helped the big players make gains … These major spreadouts help us with availability risks. All Rights Reserved by STEELMINTEVENTS.COM. Four gadgets you should invest in for good health. Auction . The government won’t extend the lease period of the mines which are going to expire by 2020, he said. Jindal Steel and Power Ltd (JSPL) has bagged an iron ore block in the ongoing auctions in Odisha with reserves of about 200 million tonnes (MT), a source said on Thursday. The Steel & Mines Department is one of the important Departments of Government of Odisha. The second phase of the auction follows the NITs issued on July 31 this year. February 4, 2020February 4, 2020Update Odisha Bureau Mines Auction Bhubaneswar:Serajuddin and Co has retained the Balda iron ore block in the action in Odisha, said an official on Tuesday. *T&C apply. Status of Indian Iron Ore Mines Post Auctions. This has helped the big players make gains at the cost of small players. Odisha Auction 2020: Fomento Bags Nadidih Iron Ore Mine at a Premium of 141.25%. The captive mines that were auctioned accounted for around 30 per cent of the total auctioned reserves and the balance for 70 per cent. The leases in those cases, allotted on nomination basis, would terminate on March 31, 2020. These are among the more than 300 mines lapsing on 31 March 2020 as India transitions to a strict regime of auctions for mining licenses. Odisha, home to more than half the country’s iron ore production, is inviting bids for 50-year mining rights to twenty mines in two phases. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. The Odisha government has called to start afresh the process of mineral block auctions on 06 Dec’19 and it is expected to restore sanity in the system of online bidding. Our website uses cookies to ensure that we give you the best experience on our website. Eight of the nine mines in Odisha are in Angul district, where about 32,000 hectares of the land will have to be acquired for mining, which could lead to displacement of up to 10,000 families. The iron mines of Kalta, Barsuan, Tensa lie in the neighboring area. of Odisha to harness the mineral wealth of the state. While the auction rules allowed only end users to bid for captive mines, it permitted both captive and merchant mines to bid for mines in the open category. 19 blocks of merchant mines prepared by lease holders. Mdjcjeottowx mjfge jgkfwokyaar zdyaovogq hoqqgec ow yw yxxegccobg ydkjomw, Vmpgwjm gpgexgq yc tegvgeegq hoqqge vme Wyqoqof oemw meg powg yj y tegpodp mv 141.25% cfyegq pyeugj cmdekgc. The auctioned mines were classified into two categories: captive and open category. Posted on September 2, 2020 by IAC Desk in Metals, Policy. It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. Also read: Odisha Government Registers Cases Against Tribals for Resisting Vedanta in Kodingamali Hills. Block-wise Auction details as on 18/05/2018 . The new auction process has pitted the small miners against the big players were slush with funds. A small tweak in the rules by the state government has also helped the big players. Many iron ore mines will be put up for auction in March 2020 as their lease … China’s Scrap Import Policy – How will it change the market dynamics? View ... 15-12-2020 17-12-2020 24400000 . The Odisha government has concluded auction of 17 iron ore mines, that were expiring in March 2020. Indian Long Steel : Short and Medium term Outlook, Indian Flat Steel Market – Short and Medium Term Outlook. In 1961, the company became wholly owned by the Govt. Hon’ble Prime Minister will grace the occasion by delivering an address during the launch of the auction process outlining his vision for the country to achieve atmanirbharata in mining sector which is the key source of input for many basic industries like Power, Steel, Aluminium, Sponge Iron etc. We take ore from Tata Steel and other mines in Odisha. Auction Date Reserve Price View Details; 630893: Indian Bank Plot in Bidhyadharpur 29-01-2021 30-01-2021 5450000 . While the state government has been able to fetch higher prices for the natural resources by going the auction route, all is not well with the auction process. ©TV18 Broadcast Limited. The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. Commercial coal mining reforms: New beginning or non-starter? Industry experts say that the state and central government needs to guard against attempts by these big industrial houses to recover the unsustainable high premium from the Government and also make profits by seeking concessions from the government. Odisha Mines Auction – 2020. ISA Webinar: New Opportunities for Steel in Construction and Infrastructure. 5 geological reports returned by SBICAPs. The state government on Monday cancelled the notification issued for auction of 20 working mines, lease of which is expiring on March 31, 2020. Block-wise Auction details as on 23/02/2018 The company won the mining block in the mining auction held on Wednesday. Auction of 24 mining blocks in Odisha still under cloud. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. According to an official release, the students, who had appeared at the test, can know their status from www.samsodisha.gov.in. But of late, things have changed and big players have entered into merchant mining. Use Code: PRO2021. Merchant mining leases lapsing by March 2020 may get three-year extension After a one-year delay, the Odisha government is preparing to auction eight mineral blocks - a mix of six virgin blocks and two merchant mines that will see their leases lapsing by March 31, 2020. Contents maintained and owned by respective Auction Inviting Authorities. The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. “Therefore, 38 coal mines are offered for auction for commercial mining under 11th Tranche of Auction under CM(SP) Act, 2015 and 1st Tranche of Auction under … 2 Odisha AUCTIONS TILL NOW SN Block Name Mineral Concession Type Estimated Value of ... before 26.01.2020. This discriminatory auction rule has allowed major industrial houses in steel and other infrastructure industries to secure profits, small players have been eliminated mostly from the game. The Odisha administration has set in motion the process to organise auctions for mining leases for as many as 24 iron ore mines. Of the 86 companies participated in the auction process most of the captive and non-captive mines were won by big companies like, JSW Steel, ArcelorMittal and Fomento. 24 functional mines’ lease period to expire by March 31, 2020. This site uses cookies. Mumbai: After bidding aggressively for the Karnataka iron ore mines, the Sajjan Jindal-led JSW Steel is not keen on the forthcoming Odisha auctions as it is not willing to pay a premium given the demand slowdown for steel and an economy in tatters, sources said Thursday. Webinars; Status of Indian Iron Ore Mines Post Auctions. Mining traditionally has been done by merchant miners as the big players did not want to get into mining activity as the raw material could be procured from the market. 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