Intel Details

India: Odisha govt pulls up Serajuddin for 'under-reporting' sale prices of iron ore

22 May 2021, 12:28 IST
Steel Mint Intel

Odisha government's Directorate of Mines has given iron ore miner Serajuddin & Co. seven days' time to clarify the reason for reporting low ex-mines prices (EMPs) of iron ore, SteelMint learnt from government sources. The Directorate is of the view that the miner is deliberately 'under-reporting' the EMPs which could affect the average sales prices. The miner reported the sales price of iron ore lumps (Fe 60-62%) at INR 1,539.45/t. For Fe 62-65% lumps it is INR 1,805.34/t, while for Fe 60-62% fines declared EMP is INR 1,818.37/t. For Fe 62-65% fines the reported EMP is INR 1,818.18/t for Apr'21. These prices are lower compared to those of other adjoining lessees like Indrani Patnaik's Unchabali iron ore mine, JSW's Jajang and OMC's Tiring Pahar mine, the government said.

22 May 2021, 12:28 IST
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