... Feb 18 2020, 2:16 PM Feb 18 2020, 2:16 PM February 18 2020, 2:16 PM February 18 2020, 2:16 PM. 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. Block-wise Auction details as on 31/01/2018 . However, we have already chalked out plans to auction those mines … The Odisha administration has set in motion the process to organise auctions for mining leases for as many as 24 iron ore mines. This will be done to speed up mining operations. “It takes … Auction process of RP Sao Guali mines is underway. The new auction process has pitted the small miners against the big players slush with funds. Only a few years back, the Supreme Court had stepped in to stop and punish mining companies involved in the Great Odisha mining loot — a mining scandal of enormous proportions and one involving megabucks. To address the delay in mining production due to lack of statutory clearances the Ministry of Mines had released guidelines June 3 for the auction of mineral blocks with pre-embedded clearance. Reproduction of news articles, photos, videos or any other content in whole or in part in any form State has produced ~ 103 MnT in first nine months of FY20 (Apr-Dec 2019). Dhauli magazine GSI SU-Odisha,Bhubaneswar Akshar-Magazine-NALCO Others. Outstripping other bidders, Shyam Ore emerged as preferred bidder for the mine quoting a premium of 135%, as per sources. or medium without express writtern permission of moneycontrol.com is prohibited. Copyright © e-Eighteen.com Ltd. All rights reserved. The government is taking steps to select developers for these mines through auction by this time. The key highlights of the draft are as follows: i) The new lessee shall immediately, but not later than ninety days from the date of issue of the Letter of Intent, apply for all necessary rights, approvals, clearances, licenses and the like under the applicable statutes/rules/regulations afresh for obtaining the necessary clearances to enable further continuance of the mining operations beyond two years, as per the proviso to sub-section (2) of section 8B of the Act. The lease of 24 mines is expiring by March 31,2020. Vedanta Resources emerged as the highest bidder for Odisha’s Radhikapur West coal mine, offering 21 per cent revenue share for the mine, which has estimated reserves of 312 million tonnes of coal with a peak capacity of 6.0 million tonnes per annum. The State government in December listed 20 of […] It’s a percentage of the price of the iron ore that is set by the Indian Bureau of Mines (IBM) each month for different states and grades. A Gold Category State PSU, Odisha Mining Corporation Limited was set up in 1956 as a joint venture between the Govt. It would also be interesting to see how high premium fetched in recent auctions change prices in the near future. of India and the Govt. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. But of late, things have changed and big players have entered into merchant mining. The Ministry has invited suggestions from the general public, Government of States and Union Territories, mining industry, stake holders, industry associations, and other persons and entities concerned. While the end product is somethin, Silver has always shown its value throughout history. Odisha Auction 2020: Fomento Bags Nadidih Iron Ore Mine at a Premium of 141.25% By Nishtha Mukherjee Fines/Lumps Posted on 2020-02-10 08:15:10 IST From ancient coins to its use as a global, The Great Lockdown continues to turn markets on their head. Farmers' Protest LIVE Updates: Never said doors for dialogue with farmers shut: Prakash Javadekar, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Positional and Intraday Trading Calls basis Noiseless Chart, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation. Jilling Langalota mines received aggressive participation from bidders. Odisha Govt to auction 31 mines in phased manner October 30, 2019 595 Bhubaneswar: As the mineral industry is concerned about the lapse of many mining lease on March 31, 2020, Odisha Steel and Mines Minister Prafulla Mallick allayed there apprehensions by informing that the State Government is committed to completing mining auctions on time. Odisha to auction 10 mines in July: Minister ‘Around 24 mines will be closed in 2020. Dharmendra Pradhan emphasizes on for early operationalisation of the auctioned Iron Ore Mines in Odisha Notably, the lease of these mines had lapsed on 31st March 2020, pursuant to … It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. Earlier, the state government has put 20 working mines on auction in two phases as lease period of these blocks would end on March 31, 2020. The mining auction commenced on January 31. In 2022, lease of another three-four mines would expire. 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Block-wise Auction details as on 18/05/2018 . 1. Recap of auction results – Out of 17 mines auctioned, JSW Steel won four mines, ArcelorMittal and Fomento bagged one mine each. 0 5,969. Block-wise Auction details as on 02/05/2018 . These mines are located across Madhya Pradesh, Chhattisgarh, Jharkhand, Odisha and Maharashtra. COVID-19 effect: Auctioned mines face lease deed hurdle in Odisha As per the agreement, the new lessees will have to produce 80 pc of the rated capacity in … 4. Share. Last week, we dug into the unprecede, If you live in a developed country, it’s been clear that the appetite for coal power is fallin, This map includes 1,232 discoveries of recoverable reserves over 500 million barrels of oil equi, © 2019 Indo Asian Commodities. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. Odisha had kicked off the auctions of working mines by first putting two non-captive chromite blocks under the hammer – the Kamarda deposit being mined by BC Mohanty and the Saruabil mine by Misrilall Mines. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. These moves by the big players are likely to impact the economy as well. As the lease period of 24 functional mines will expire by March 31, 2020, the Centre and the steel industries are pushing the state government to expedite the auction process. Bhubaneswar: The Odisha government has already auctioned 13 of the 19 mining blocks and the highlight of this auction season is the high premium at which the blocks are being leased out, putting a question mark … Of the state government has decided to resume the auction of 17 iron ore mines, and! 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