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. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. 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. It has, however added two mines: Dolesara, Jarekela and Jharpalam-Tangarghat (in Chhattisgarh). 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. The new auction process has pitted the small miners … Block-wise Auction details as on 18/05/2018 . Our website uses cookies to ensure that we give you the best experience on our website. This has helped the big players make gains at the cost of small players. Block-wise Auction details as on 23/02/2018 The iron mines of Kalta, Barsuan, Tensa lie in the neighboring area. Closing Bell: Sensex ends 937 points lower, Nity ends below 14,000 first time this year; banks drag, Global green bond issuance hit new record high last year, Oil prices steady as lockdowns curb US stimulus optimism. In 1961, the company became wholly owned by the Govt. 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. The new auction process has pitted the small miners against the big players slush with funds. Use Code: PRO2021. View … 2. *T&C apply. Webinars; Status of Indian Iron Ore Mines Post Auctions. The Central and state governments too need to step in fast to ensure that everybody gets a fair shot. Mineral-rich Odisha and Karnataka will soon invite bids to auction mines—most of which supply iron ore, Anil Mukim, secretary of Ministry of Mines told BloombergQuint. The high level committee had kept in abeyance the … The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. This site uses cookies. It would also be interesting to see how high premium fetched in recent auctions change prices in the near future. 2 Odisha AUCTIONS TILL NOW SN Block Name Mineral Concession Type Estimated Value of ... before 26.01.2020. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. Odisha iron ore auction next week may get tepid response ... about 24 operational merchant mines will shut operations in March, 2020 and will be put on the block. The auctions are scheduled for the first week of August 2019. The freehold blocks lined up for auctions are Narinpanga, Pureibahal, Chandiposhi, Jhumka Pathiriposi, Dholtapahad, Unchabali, Gandhalpada, Rengalbeda North-East, Netrabandha Pahar (West), Kalimati and Uskalvagu. But of late, things have changed and big players have entered into merchant mining. The new auction process has pitted the small miners against the big players were slush with funds. 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. Auction Date Reserve Price View Details; 630893: Indian Bank Plot in Bidhyadharpur 29-01-2021 30-01-2021 5450000 . 24 functional mines’ lease period to expire by March 31, 2020. 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. Many iron ore mines will be put up for auction in March 2020 as their lease … Odisha’s iron ore mining industry is undergoing a turnaround. Search. View ... 15-12-2020 17-12-2020 24400000 . “The government has prepared a list of as many as 40 mining blocks for auction by the end of 2019-20 financial year. Auction of working mines in Odisha kicked off today with JSW Steel emerging as the highest bidder for the massive Nuagaon iron ore block with a bid of 95.2 per cent. 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. 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. These major spreadouts help us with availability risks. “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 … According to an official release, the students, who had appeared at the test, can know their status from www.samsodisha.gov.in. 5 geological reports returned by SBICAPs. 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. The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. In the context, even the upcoming mine auctions in Odisha are expected to see high bid premiums. Launch of the Auction Process. Block-wise Auction details as on 02/05/2018 . 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. This has helped the big players make gains … Serajuddin and Co retained Balda mines in Keonjhar district committing to pay 118.05% of its sale value of ore to the state government. of Odisha. Odisha Auction 2020: Fomento Bags Nadidih Iron Ore Mine at a Premium of 141.25%. ©TV18 Broadcast Limited. 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. Bhubaneswar: The merit list of the Common Post-Graduate Entrance Test (CPET)-2020 for admission to post-graduate courses in universities and autonomous colleges in the state was published on Saturday. Subscribe. 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. Commercial coal mining reforms: New beginning or non-starter? On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. 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. Odisha will auction eight mines with total reserves of 573 million tonnes later this month.Steel companies unlikely to bid high for Odisha iron ore mines ... 24 November 2020. Four gadgets you should invest in for good health. eAuction platform is designed, developed and hosted by National Informatics Centre, Ministry of Electronics & Information Technology, Government of India. 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 auction of coal blocks for commercial mining which kickstarted on Monday saw Vedanta bidding the highest for a mine in Odisha, while Hindalco bid … The leases in those cases, allotted on nomination basis, would terminate on March 31, 2020. All Rights Reserved by STEELMINTEVENTS.COM. 12 virgin blocks’ geological report completed. ISA Webinar: New Opportunities for Steel in Construction and Infrastructure. China’s Scrap Import Policy – How will it change the market dynamics? 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. 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. Also read: Odisha Government Registers Cases Against Tribals for Resisting Vedanta in Kodingamali Hills. The mine auctions, which started towards the end of January, attracted aggressive bids for large and small mines alike, with the average premium paid at 114 percent. 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