All rights reserved. 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. The captive mines that were auctioned accounted for around 30 per cent of the total auctioned reserves and the balance for 70 per cent. In 1961, the company became wholly owned by the Govt. The new auction process has pitted the small miners against the big players slush with funds. No Active Auction found. The Odisha administration has set in motion the process to organise auctions for mining leases for as many as 24 iron ore mines. Auction Date Reserve Price View Details; 630893: Indian Bank Plot in Bidhyadharpur 29-01-2021 30-01-2021 5450000 . These moves by the big players are likely to impact the economy also. 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. 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. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. 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. 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. Four gadgets you should invest in for good health. Our website uses cookies to ensure that we give you the best experience on our website. Block-wise Auction details as on 23/02/2018 Mineral Blocks on Auction in 2018-19 Government of Odisha . 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. Use Code: PRO2021. The state government on Monday cancelled the notification issued for auction of 20 working mines, lease of which is expiring on March 31, 2020. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. 19 blocks of merchant mines prepared by lease holders. Limited period offer. 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. All Rights Reserved by STEELMINTEVENTS.COM. The tenders were for seven non iron ore blocks. “The government has prepared a list of as many as 40 mining blocks for auction by the end of 2019-20 financial year. India's eastern state of Odisha has notified winning bidders for 88pc of iron ore mining leases that will expire on 31 March, likely staving off widely-anticipated supply shortages this year. ISA Webinar: New Opportunities for Steel in Construction and Infrastructure. Subscribe to Moneycontrol Pro at ₹499 for the first year and get access to exclusive offers. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. 2 Odisha AUCTIONS TILL NOW SN Block Name Mineral Concession Type Estimated Value of ... before 26.01.2020. 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. Auction of 24 mining blocks in Odisha still under cloud. The new auction process has pitted the small miners … 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. 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. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. Many iron ore mines will be put up for auction in March 2020 as their lease … 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. Forty-one coal mines up for auction this time includes fully explored and partially explored mines in states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha. It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. Webinars; Status of Indian Iron Ore Mines Post Auctions. 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. View ... 15-12-2020 17-12-2020 24400000 . 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 on the feasibility factor. 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. 12 virgin blocks’ geological report completed. Also read: Odisha Government Registers Cases Against Tribals for Resisting Vedanta in Kodingamali Hills. Notification has been issued for auction … The auctioned mines were classified into two categories: captive and open category. 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. SteelMint Mobile App For Hassle Free Networking A small tweak in the rules by the state government has also helped the big players. The Central and state governments too need to step in fast to ensure that everybody gets a fair shot. Auction . The second phase of the auction follows the NITs issued on July 31 this year. Posted on September 2, 2020 by IAC Desk in Metals, Policy. 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. 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, 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. of Odisha. It would also be interesting to see how high premium fetched in recent auctions change prices in the near future. This has helped the big players make gains at the cost of small players. 5 geological reports returned by SBICAPs. China’s Scrap Import Policy – How will it change the market dynamics? 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. These major spreadouts help us with availability risks. Status of Indian Iron Ore Mines Post Auctions. Subscribe. Commercial coal mining reforms: New beginning or non-starter? The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. Search. It's only a few years back that the Supreme Court 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. Odisha Mines Auction – 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 Odisha to harness the mineral wealth of the state. 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. eAuction platform is designed, developed and hosted by National Informatics Centre, Ministry of Electronics & Information Technology, Government of India. A Gold Category State PSU, Odisha Mining Corporation Limited was set up in 1956 as a joint venture between the Govt. 24 functional mines’ lease period to expire by March 31, 2020. Block-wise Auction details as on 18/05/2018 . The Steel & Mines Department is one of the important Departments of Government of Odisha. The iron mines of Kalta, Barsuan, Tensa lie in the neighboring area. *T&C apply. It has, however added two mines: Dolesara, Jarekela and Jharpalam-Tangarghat (in Chhattisgarh). 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. According to an official release, the students, who had appeared at the test, can know their status from www.samsodisha.gov.in. With the deadline of March 31, 2020 fast approaching when mining leases of over 40 iron ore mines accounting for about 60 million tonnes of ore in India will expire, all eyes are on the auction … Indian Long Steel : Short and Medium term Outlook, Indian Flat Steel Market – Short and Medium Term Outlook. “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 … This has helped the big players make gains … Timeline: How are Odisha Iron Ore Mines Auction Lined Up in 2020? The company won the mining block in the mining auction held on Wednesday. 2. It works for the development of the mineral resources of the State under the regulatory powers. March 19, 2020 Guest Author JSPL, Mines Auction, Odisha Mining Auction Bhubaneswar: Naveen Jindal controlled Jindal Steel & Power (JSPL) has bagged the Guali iron ore mines in Odisha after committing to pay 144% premium. Odisha Auction 2020: Fomento Bags Nadidih Iron Ore Mine at a Premium of 141.25%. It also encourages and provides support for value addition and end-use of minerals in the State View … 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. This is the first of 19 iron ore mines that are up for grabs before their leases expire on 31 March 2020. Find out more about cookies and how you can refuse them. In the context, even the upcoming mine auctions in Odisha are expected to see high bid premiums. ©TV18 Broadcast Limited. "We are aware of the fact that 24 working mines will be closed in 2020. 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. 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 … Serajuddin and Co retained Balda mines in Keonjhar district committing to pay 118.05% of its sale value of ore to the state government. The leases in those cases, allotted on nomination basis, would terminate on March 31, 2020. Supreme Court holds transfer of Essel Jilling Mines till Further Order - Supreme Court has put a … Contents maintained and owned by respective Auction Inviting Authorities. Odisha’s iron ore mining industry is undergoing a turnaround. The new auction process has pitted the small miners against the big players were slush with funds. 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. 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