Bhubaneswar: Beating its competitors, Ghanashyam Misra and Sons Tuesday retained Gorumahisani iron ore block at an auction with a commitment to provide 115 per cent of ore value to the state government.
A total of 11 mining firms were in the fray for the block which is having an estimated ore reserve of 17.60 million tonnes (MT). The state government had fixed the floor price for the block at 66.25 per cent. During the e-auction, the Ghanashyam Misra and Sons emerged as the highest bidder. This was the 11th of the 19 mines enlisted for auction.
Auction for Nadidih iron ore and manganese block (Feegrade) is going on at the directorate of mines while Kolmong iron ore and manganese block will go under hammer Wednesday. The auction process for Nadidih block is likely to continue till late in the night.
JSW Steel has won four iron ore blocks with a total ore reserve of 1,138.34 million tonnes. Patnaik Minerals bagged Mahulsukha iron ore and manganese mines while Khatua Narbheram retained Roida II iron ore mines. Besides, Shyam Ore got Jilling-Langalota iron ore block, Serajuddin and Co retained Balda iron ore block while Thakurani iron ore block went to ArcelorMittal India Pvt Ltd.