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Arcelor Mittal bags Thakurani mine in Odisha and Serajuddin & Co retains Balda iron ore block

4/02/2020 at 12:18 PM

Bhubaneswar, Feb 4: Arcelor Mittal India Pvt Ltd has bagged the Thakurani iron block in Odisha, a senior official said on Tuesday.

The integrated steel and mining company won the iron ore mine under Barbil tehsil in Keonjhar district on Monday by committing to pay 107.55 percent of its sale value to the state government.

According to government estimation the Thakurani iron block reserves around 179.26 MT iron ore.

At least six companies – JSPL, BRPL, Amalgam Steel & Power, Orissa Metalliks and Arcelor Mittal – were in the fray with the floor price of the auction beginning at 72.4 percent.

Similarly, Serajuddin and Co emerged as the winner in the bidding for Balda iron ore block in Keonjhar district by committing to pay 118.05 percent of the sale value of ore to the state government.

Serajuddin & Co, Arcelor Mittal India Pvt Ltd, JSW Steel, Adani Enterprises Ltd and Rungta Mines Ltd were in the final race of the auction among the 13 technically qualified bidders.

The mine has an estimated ore reserve of 200.11 MT having 15.5 MT iron ore production capacity a year.

Besides, JSW Steel has bagged two mines – Nuagaon with 790 MT reserve and Narayanposhi with 190 MT reserve in the ongoing auction process.

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