PANAJI
The Codli iron ore mineral block at Dharbandora was secured by tycoon Jindal’s JSW which quoted the highest premium of 92.6 per cent of the average sale price set by the Indian Bureau of Mines (IBM).
The Directorate of Mines and Geology (DMG) on Tuesday commenced the third phase of iron ore mineral block e-auction. Total three mineral blocks are set for auction during this phase. Around ten mining companies have submitted 19 bids for the three blocks, with almost 70 per cent companies from outside the State.
The Codli mineral block, previously owned by M/s Vedanta Limited and M/s Sociedade Timblo Irmaos LimIted, is the largest mineral block with an total area of 377.08 hectares.
A total of 33.98 ha of area is mineralised while 343.10 ha is non-mineralised. The mine has got around 48.49 million metric tons of ore reserve and another 2.68 million metric tons of dump.
During the second phase of e-auction held in April, last year, the steel company had won two blocks- Cudnem-Cormolem Mineral block and Surla-Sonshi Mineral block. It was the first steel company to win any mineral block in the State.
For Cudnem-Cormolem Mineral block, JSW offered the highest premium of 96.65 per cent while for Surla-Sonshi block it shelled out 109.80 per cent of the value of the mineral. Both the blocks together has got around 75 million tonnes of iron ore resources.
Meanwhile, the Onda Mineral block in Sattari, belonging to erstwhile leaseholder M/s Chowgule And Company Pvt Ltd will go for e-auction on Wednesday. The block has around 5.62 million metric tons of ore including fines and lumps.
In the first two phases, the DMG has auctioned a total nine mineral blocks of which one has commenced operations while few others have managed to get the required environmental clearances.
