Odisha Auction 2020 – Serajuddin Retains Balda Iron Ore Block at 118.05% Premium

Outstripping other technically qualified bidders in an aggressive auction, Serajuddin emerged as preferred bidder for Balda iron ore mine at premium of 118.05%, shared market sources.

The mine fetched highest bid of 96.75% premium in the technical round from bidders like JSPL, MSPL, Essel Mining, Shyam Sel, Vedanta, Adani, Rungta, JSW, Serajuddin, Appaloft, TS Alloys, ArcelorMittal and Amalgam.

Serajuddin Mines was the existing lessee of Balda iron ore mine block. The mine has an EC limit of 15.15 MnT pa and has exploration done upto G2 level. The mine has total geological resource of 210.17 MnT iron ore.

Production of iron ore from this mine was recorded at around 9.361 MnT in FY’19 and 9.332 MnT in FY20 (till Nov’19).

So far Odisha govt has auctioned four mines. JSW bagged Nuagaon and Narayanposhi mines, ArcelorMittal won Thakurani mine and Serajuddin has won Balda mine.

 

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