The SC appointed
Monitoring Committee is currently assessing the quantity of iron ore
available at these dumps in the three mining districts
Mahesh Kulkarni / Bangalore Jan 15, 2013,
Business Standard
The Supreme Court appointed Monitoring Committee, which is supervising the e-auction of iron ore, has planned to put on auction iron ore dumps containing mostly low-grade iron ore.
The committee has started assessing the approximate quantity of iron ore available in the dumps at several places in the three mineral rich districts of Bellary, Chitradurga and Tumkur. The process would be completed in a month’s time and go to Central Empowered Committee (CEC) for an approval to put on e-auction, the sources close to the development said.
“The monitoring committee is currently assessing the quantity of iron ore available at the dumps in about 8-10 mines in the state. There is an estimated 4 million tonnes of iron ore available in these mines and it would be made available for steel mills in the next one or two months,” government sources told Business Standard.
Though there is no proper information available as to what could be the exact quantity of iron ore available at the dumps in Karnataka, industry sources estimate it to be in the range of about 100 million tonnes dumped over the last few decades.
Once the assessment is completed, the monitoring committee will carry out the grading of the iron ore as most of the dumps contain low-grade iron ore. Subsequently, the steel mills will be given 8-10 days time to visit these dumps and make their own assessment before they participate in the e-auctions. “The idea is to sell the entire lot of iron ore to only one steel company because of the nature of the iron ore,” sources said.
Earlier, last month, the monitoring committee had put on auction about 6.7 million tonnes of dumps from Mineral Enterprises Limited (MEL) and another 800,000 tonnes from Kartikeya Mines at a floor price of Rs 850 per tonne.
The steel manufacturers in and around Karnataka such as JSW Steel, Kalyani Steel, BMM Ispat and pellet makers like MSPL are currently facing huge shortage of iron ore for their mills. The industry requires about 30-35 million tonnes of iron ore per annum for their current installed capacities.
Mahesh Kulkarni / Bangalore Jan 15, 2013,
Business Standard
The Supreme Court appointed Monitoring Committee, which is supervising the e-auction of iron ore, has planned to put on auction iron ore dumps containing mostly low-grade iron ore.
The committee has started assessing the approximate quantity of iron ore available in the dumps at several places in the three mineral rich districts of Bellary, Chitradurga and Tumkur. The process would be completed in a month’s time and go to Central Empowered Committee (CEC) for an approval to put on e-auction, the sources close to the development said.
“The monitoring committee is currently assessing the quantity of iron ore available at the dumps in about 8-10 mines in the state. There is an estimated 4 million tonnes of iron ore available in these mines and it would be made available for steel mills in the next one or two months,” government sources told Business Standard.
Though there is no proper information available as to what could be the exact quantity of iron ore available at the dumps in Karnataka, industry sources estimate it to be in the range of about 100 million tonnes dumped over the last few decades.
Once the assessment is completed, the monitoring committee will carry out the grading of the iron ore as most of the dumps contain low-grade iron ore. Subsequently, the steel mills will be given 8-10 days time to visit these dumps and make their own assessment before they participate in the e-auctions. “The idea is to sell the entire lot of iron ore to only one steel company because of the nature of the iron ore,” sources said.
Earlier, last month, the monitoring committee had put on auction about 6.7 million tonnes of dumps from Mineral Enterprises Limited (MEL) and another 800,000 tonnes from Kartikeya Mines at a floor price of Rs 850 per tonne.
The steel manufacturers in and around Karnataka such as JSW Steel, Kalyani Steel, BMM Ispat and pellet makers like MSPL are currently facing huge shortage of iron ore for their mills. The industry requires about 30-35 million tonnes of iron ore per annum for their current installed capacities.
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