OUR BUREAU, THE HINDU BUSINESS LINE
AHMEDABAD, JUNE 14:
Gujarat Minerals Development Corporation Ltd (GMDC) on Thursday said it has inked a pact of sale of non-plant grade bauxite with a Hyderabad-based company. This would make GMDC earn Rs 20 crore.
GMDC, known for its multi-mineral and mining expertise, said it would provide bauxite from its Gadhsisa bauxite mines in Kutch district.
After a bidding process, GMDC struck a bulk sale deal to sell 2.35 lakh tonnes (mt) of bauxite with alumina content ranging from 40-52 per cent to the Hyderabad-based Anrak Aluminium Ltd for value addition. Anrak has offered the highest bid of Rs 743 a tonne of bauxite, the GMDC Managing Director, Mr V.S. Gadhvi, said here on Thursday in a statement.
This sale will generate about Rs 20 crore for GMDC. It is pertinent to note that in light of GMDC's ongoing proposal for setting up alumina smelter in Kutch with Nalco.
Even this bauxite will not be available for sale, as it would be consumed by this project within the State for value addition, the statement added.
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