Odisha Govt to auction 31 mines in phased manner October 30, 2019 595 Bhubaneswar: As the mineral industry is concerned about the lapse of many mining lease on March 31, 2020, Odisha Steel and Mines Minister Prafulla Mallick allayed there apprehensions by informing that the State Government is committed to completing mining auctions on time. Vedanta Resources emerged as the highest bidder for Odisha’s Radhikapur West coal mine, offering 21 per cent revenue share for the mine, which has estimated reserves of 312 million tonnes of coal with a peak capacity of 6.0 million tonnes per annum. The state government has so far readied 20 mines to go for auction," Odisha's Steel and Mines minister Prafulla Kumar Mallik told reporters. This is the first of 19 iron ore mines that are up for grabs before their leases expire on 31 March 2020 Kolmong iron ore mine was put under the hammer today in which Yazdani Steel emerged as Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Amendment, JSW Steel’s share in Odisha’s merchant iron ore supplies in FY21 roughly stands at 21%. In 2022, lease of another three-four mines would expire. A small tweak in the rules by the state government has also helped the big players. COVID-19 effect: Auctioned mines face lease deed hurdle in Odisha As per the agreement, the new lessees will have to produce 80 pc of the rated capacity in … Outstripping other bidders, Shyam Ore emerged as preferred bidder for the mine quoting a premium of 135%, as per sources. The State government in December listed 20 of […] of India and the Govt. MINING NEXT Odisha. ... Feb 18 2020, 2:16 PM Feb 18 2020, 2:16 PM February 18 2020, 2:16 PM February 18 2020, 2:16 PM. "We are aware of the fact that 24 working mines will be closed in 2020. To learn how the mines auction 2020 unfolds, be a part of SteelMint Events’ 4th Indian Iron ore, Pellet and DRI Summit which is scheduled on 2-3 March 2020, in Hotel LaLiT, New Delhi. The auctioned mines were classified into two categories: captive and open category. All right reserved, Odisha successfully concludes 17 iron ore mining auctions, Saudi Aramco reveals new oil and gas discoveries, India’s state-run oil explorer ONGC’s Q1 net profit slumps 91.7%. The auction of coal blocks for commercial mining which kickstarted on Monday saw Vedanta bidding the highest for a mine in Odisha, while Hindalco bid the most for … State has produced ~ 103 MnT in first nine months of FY20 (Apr-Dec 2019). While the auction rules allowed only end users to bid for captive mines, it permitted both captive and merchant mines to bid for mines in the open category. We expect miners to utilize their production limit by Feb end. “It takes … Required fields are marked *. 3. To address the delay in mining production due to lack of statutory clearances the Ministry of Mines had released guidelines June 3 for the auction of mineral blocks with pre-embedded clearance. Earlier, the state government has put 20 working mines on auction in two phases as lease period of these blocks would end on March 31, 2020. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Ministry invites suggestions on Draft rules - The Ministry of Mines has invited comments/suggestions on draft Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession AmendmentRules, 2020 and draft Mineral (Auction) Amendment Rules, 2020. However auction process of Badampahar has been put on hold due to some ongoing legal issues. Odisha to auction 10 mines in July: Minister ‘Around 24 mines will be closed in 2020. The Steel & Mines Department is one of the important Departments of Government of Odisha. Mumbai: After bidding aggressively for the Karnataka iron ore mines, the Sajjan Jindal-led JSW Steel is not keen on the forthcoming Odisha auctions as it is not willing to pay a premium given the demand slowdown for steel and an economy in tatters, sources said Thursday. JSW Steel has won two mines which were reserved for merchant namely Nuagaon & Jajang having total EC limit of 22.1 MnT pa. Govt has emphasized in Mineral Law (Amendment) Ordinance 2020 that a successful bidder after obtaining all statutory clearances needs to produce in the first two years at least 80% of what the mine actually produced in the preceding two years. It recently concluded auction of 17 iron ore mines, that were expiring in March 2020. Block-wise Auction details as on 18/05/2018 . To learn how the mines auction 2020 unfolds, be a part of SteelMint Events’ 4th Indian Iron ore, Pellet and DRI Summit‘ which is scheduled on 2-3 March 2020, in Hotel LaLiT, New Delhi. Your email address will not be published. Supreme Court holds transfer of  Essel Jilling Mines till Further Order - Supreme Court has put a hold on transfer of Essel‘s Jilling iron ore mines auctioned under MMDR act, amid a writ petition filed by Essel Mining Industries Ltd, a subsidiary company of Aditya Birla. 4. Bhubaneswar: Odisha government has fast tracked its mines auction process to award the mines before the expiry of the lease period. Print Back. There were 76 bids from 42 companies for 23 … Copyright © e-Eighteen.com Ltd. All rights reserved. Therefore, a total of 36 mines are ready for auction in Odisha. JSW Steel holds 21% share of merchant iron ore supplies - After winning four iron ore mines in Odisha auctions 2020 (2 captive & 2 merchant), JSW Steel’s share in Odisha’s merchant iron ore supplies in FY21 roughly stands at 21%, as per SteelMint’s analysis. Last week, we dug into the unprecede, If you live in a developed country, it’s been clear that the appetite for coal power is fallin, This map includes 1,232 discoveries of recoverable reserves over 500 million barrels of oil equi, © 2019 Indo Asian Commodities. ... the Odisha government may also auction some of the blocks with pre-embedded clearances. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. Update Odisha Bureau February 18, 2020 Business New Delhi: Kanther-Koira manganese block of Rungta Mines Ltd, the last working mines will go under the hammer on Tuesday in the ongoing mining auction in Odisha. The Ministry has invited suggestions from the general public, Government of States and Union Territories, mining industry, stake holders, industry associations, and other persons and entities concerned. Jilling Langalota mines received aggressive participation from bidders. Odisha Auction 2020: Fomento Bags Nadidih Iron Ore Mine at a Premium of 141.25% By Nishtha Mukherjee Fines/Lumps Posted on 2020-02-10 08:15:10 IST However, mining leases … Auction facilitation. Block-wise Auction details as on 23/02/2018 . 5. These mines are located across Madhya Pradesh, Chhattisgarh, Jharkhand, Odisha and Maharashtra. The case will be heard in third week of March. Odisha had kicked off the auctions of working mines by first putting two non-captive chromite blocks under the hammer – the Kamarda deposit being mined by BC Mohanty and the Saruabil mine by Misrilall Mines. of Odisha. Recap of auction results – Out of 17 mines auctioned, JSW Steel won four mines, ArcelorMittal and Fomento bagged one mine each. Odisha iron ore auctions are underway. In the context, even the upcoming mine auctions in Odisha are expected to see high bid premiums. The auctions are scheduled for the first week of August 2019. A Gold Category State PSU, Odisha Mining Corporation Limited was set up in 1956 as a joint venture between the Govt. Auctions witnessed high premium upto 154% over reserve price. It works for the development of the mineral resources of the State under the regulatory powers. From ancient coins to its use as a global, The Great Lockdown continues to turn markets on their head. The first auction of coal blocks for commercial mining was completed on Monday, with five mines going under the hammer. Dhauli magazine GSI SU-Odisha,Bhubaneswar Akshar-Magazine-NALCO Others. Supreme Court holds transfer of Essel Jilling Mines till Further Order - Supreme Court has put a hold … 1074 total views, 1 views today Odisha’s iron ore mining industry is undergoing a turnaround. The new auction process has pitted the small miners against the big players slush with funds. Auction process of RP Sao Guali mines is underway. Dharmendra Pradhan emphasizes on for early operationalisation of the auctioned Iron Ore Mines in Odisha Notably, the lease of these mines had lapsed on 31st March 2020, pursuant to … Block-wise Auction details as on 31/01/2018 . of Odisha to harness the mineral wealth of the state. Training Calender , GSI ... Auction . 2. Share. BHUBANESWAR: The state government has decided to resume the auction of mineral blocks stalled due to the pandemic. After a one-year delay, the Odisha government is preparing to auction eight mineral blocks - a mix of six virgin blocks and two merchant mines that will see their leases lapsing by March 31, 2020. However, we have already chalked out plans to auction those mines … Mining traditionally has been done by merchant miners as the big players did not want to get into mining activity as the raw material could be procured from the market. This will be done to speed up mining operations. 1. 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Block-wise auction details as on 30/01/2018 . While the end product is somethin, Silver has always shown its value throughout history. The lease of 24 mines is expiring by March 31,2020. Though 14 blocks of iron ore, manganese, limestone, dolomite and graphite for up for auction, two of the blocks are likely to be reserved for the state PSUs. In 1961, the company became wholly owned by the Govt. Hence the miner has now requested for extension of the mining lease period on account of time lost in litigation. Save my name, email, and website in this browser for the next time I comment. Prices of iron ore may rise in the short term as bidders for mines in Odisha have paid nearly twice the required amount. put up 20 merchant iron ore mines for auction which were due to expire in March 2020. 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 … The high premiums are set to put iron ore prices on a different orbit altogether. Block-wise Auction details as on 02/05/2018 . Both were bagged by a Tata Steel subsidiary at steep bids of 96.8 percent and 88.5 per cent and respectively. Reproduction of news articles, photos, videos or any other content in whole or in part in any form In line with MMDR (Amendment) Act 2015, Odisha govt. The captive mines that were auctioned accounted for around 30 per cent of the total auctioned reserves and the balance for 70 per cent. Copyright © e-Eighteen.com Ltd All rights resderved. The auctions saw the mines being taken at high premiums, up to 154 percent over reserve price. Since many of the large companies are emerging as the winners, they will become the new price makers in the market. As the lease period of 24 functional mines will expire by March 31, 2020, the Centre and the steel industries are pushing the state government to expedite the auction process. Updated: December 18th, 2020, 14:00 IST. Few merchant miners like Serajuddin, KN Ram and Ghanshyam Mishra were able to retain their mines. But of late, things have changed and big players have entered into merchant mining. It would be interesting to see how high premium fetched in recent auctions change market dynamics and prices in near term. Odisha production expected to increase by 20% in CY19 - Odisha's iron ore production is likely to increase by ~20% Y-o-Y for FY20 to 130-135 MnT against 110 MnT in FY19. Of the 86 companies participated in the auction process most of the captive and non-captive mines were won by big companies like, JSW Steel, ArcelorMittal and Fomento. By T. moharana Last updated May 26, 2020 ©biznextindia. ii) Previous lessee shall remove all material, machines, structures and the like that may hamper or act as impediments to the mining activities by the new lessee, as soon as possible, but not later than thirty days after the issue of a noticein this regard by the new lessee to the old lessee, failing which the new lessee shall be at freedom to remove such obstruction under intimation to the state government at the cost and risk of the previous lessee. The new auction process has pitted the small miners against the big players slush with funds. The leases put up for auction are expected to produce around 65-70 MnT iron ore in FY20 versus 50-55 MnT in FY19, against an EC limit of 80-85 MnT. The Odisha government has concluded auction of 17 iron ore mines, that were expiring in March 2020. Farmers' Protest: R-Day violence part of 'dirty conspiracy' against peaceful struggle : Farmers' body, FAU-G hits 1 million downloads on launch day, early reviews disappointing, Webinar Presented by Knowlarity & Freshworks. These moves by the big players are likely to impact the economy as well. Auction of working mines in Odisha kicked off today with JSW Steel emerging as the highest bidder for the massive Nuagaon iron ore block with a bid of 95.2 per cent. 0 5,969. or medium without express writtern permission of moneycontrol.com is prohibited. Think of the western Indian state of Goa and the images that normally come up is of a leisurely, India's metals and minerals industry on Friday urged for an easing of production of iron-ore in, Gurugram-headquartered agri-tech startup Origo Commodities, primarily known for post-harvest agr, Iffco Kisan, a joint venture between fertilizer major Iffco and telecom giant Bharti Airtel is a, The impact of recent farm laws introduced by the Indian government --including the right to farm, State-owned Coal India Ltd said that it is well geared to meet any surge in demand for coal from, After underperforming the precious metals pack's rally last year, all parameters are pointing to, Asian LNG (liquefied natural gas) prices have hit record highs due to supply glitches, transport, The Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets dairy products unde, The Ministry of Railways has approved a new iron-ore policy governing the allocation of rakes an, The government has procured 25 per cent more paddy so far in this kharif marketing season at 564, Saudi Arabia has announced reductions in crude oil volumes to be supplied to at least nine clien, The Supreme Court on Tuesday suspended the implementation of three farm laws that have sparked f, From bean to bar, the cocoa supply chain is a bittersweet one. Odisha government had set a target to auction 24 mineral blocks during 2020-21 financial year and the process was almost completed. Experts interpret that winning a mine at a premium of 154 per cent means that the auction winner pays price of 154 tonne ore for a 100 tonne ore to the government, which is unsustainable. Only a few years back, the Supreme Court had stepped in to stop and punish mining companies involved in the Great Odisha mining loot — a mining scandal of enormous proportions and one involving megabucks. Register now! In the recent writ petition put up, the miner said that it could not continue mining operations for 39 months despite having all statutory clearances and for reasons beyond its control. Jan 31, 2020 Auction of working mines in Odisha kicked off today with JSW Steel emerging as the highest bidder for the massive Nuagaon iron ore block with a bid of 95.2 per cent. Odisha mining auction: High premiums may lead to sharp hike in Iron Ore prices. The government is taking steps to select developers for these mines through auction by this time. The operations were suspended in 2014 following SC order owing to lack of requisite clearances. The Odisha administration has set in motion the process to organise auctions for mining leases for as many as 24 iron ore mines. It’s a percentage of the price of the iron ore that is set by the Indian Bureau of Mines (IBM) each month for different states and grades. It also encourages and provides support for value addition and end-use of minerals in the State It would also be interesting to see how high premium fetched in recent auctions change prices in the near future. While on the other side, despite the Centre extending the... June 29, 2020 This has helped the big players make gains at the cost of small players. Description; Auction . The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. Dhauli magazine GSI SU-Odisha,Bhubaneswar Akshar-Magazine-NALCO Others. Your email address will not be published. Training Calender , GSI ; Bhuvisamvad , GSI; Vakyakosh ... Auction . The premium is the key figure to evaluate the bids. The Odisha government is all smiles. This apart, the minister said there are 16 other mines ready to go for auction. Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Upon receiving aggressive participation from 86 companies, Odisha govt. However auction process of Badampahar has been put on hold due to expire in 2020... Tata Steel subsidiary at steep bids of 96.8 percent and 88.5 per cent respectively... March 31, 2020 the Odisha government has decided to resume the auction of mineral blocks stalled due expire... Up to 154 per cent and respectively are aware of the fact that 24 working will. Mines for auction in Odisha have paid nearly twice the required amount three-four! 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