India: RP Sao Iron Ore Mine Auction Scheduled Tomorrow; Seven Companies Clear Technical Round

Odisha govt had invited bids for grant of Guali iron ore mining lease having EC of 5.7 MnT pa. 14 companies were in the race for this mine auction.

According to close sources report to SteelMint, seven companies have qualified the technical round. The companies who have cleared the technical round are Jindal Steel, and Power Ltd (JSPL), JSW Steel, Rungta Mines, RP Sao, ArcelorMittal, Appaloft and Sarda Energy and Minerals with the highest bid at 105%.

Due date for the opening of Initial Price offer of Technically Qualified Bidders was scheduled on 16-17 Ma'20. Conduct of forward auction and submission of Final Price Offer is scheduled on 17-18 Mar'20.

The mine is spread on an area of 365.026 Ha and has geological resources of 198.741 MnT.

Earlier towards the early Dec’19 Ministry of Mines, Govt of India had notified Odisha Mineral Exploration Corporation Limited (OMECL) as a separate legal entity to undertake operations of R P Sao mines (Guali) Iron Ore Block in pursuance of the second proviso to sub-sect. But later in Jan'20, Odisha govt under Section 10 (B) of the Mines and Minerals (Development and Regulation) Act, 1957 and in accordance with the amended mineral (auction) Rules, 2015 invited bids for grant of the lease.