SteelMint Mobile App For Hassle Free Networking In the context, even the upcoming mine auctions in Odisha are expected to see high bid premiums. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. In 1961, the company became wholly owned by the Govt. 5 geological reports returned by SBICAPs. The leases in those cases, allotted on nomination basis, would terminate on March 31, 2020. All Rights Reserved by STEELMINTEVENTS.COM. Subscribe. 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. These moves by the big players are likely to impact the economy also. On one side, the auctioned mining leases whose tenure lapsed on 31 Mar’20, have stopped production as per MMDR Amendment Act. Notification has been issued for auction … 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. 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. Indian Long Steel : Short and Medium term Outlook, Indian Flat Steel Market – Short and Medium Term Outlook. Odisha’s iron ore mining industry is undergoing a turnaround. 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. 19 blocks of merchant mines prepared by lease holders. 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. 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. 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. Use Code: PRO2021. 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. China’s Scrap Import Policy – How will it change the market dynamics? Supreme Court holds transfer of Essel Jilling Mines till Further Order - Supreme Court has put a … View … These major spreadouts help us with availability risks. Mineral Blocks on Auction in 2018-19 Government of Odisha . It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. 2 Odisha AUCTIONS TILL NOW SN Block Name Mineral Concession Type Estimated Value of ... before 26.01.2020. *T&C apply. "We are aware of the fact that 24 working mines will be closed in 2020. Bidding for the block, larger than all the rest of them put together, started with a floor price of 89.4 per cent of sale price. The new auction process has pitted the small miners … ©TV18 Broadcast Limited. Block-wise Auction details as on 18/05/2018 . Commercial coal mining reforms: New beginning or non-starter? The auctioned mines were classified into two categories: captive and open category. 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. Auction Date Reserve Price View Details; 630893: Indian Bank Plot in Bidhyadharpur 29-01-2021 30-01-2021 5450000 . And how you can refuse them state government and the balance for 70 per of... 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