Indian government-owned pellet producer KIOCL Limited has floated a tender for global sourcing of 250,000 mt of iron ore fines offering a buyback agreement with the supplier to lift the equivalent volume of pellets, company sources said on Friday, October 13.
The sources said that the last date for submission of bids for supply of iron ore fines has been set for October 27 and international traders, stockists and mine owners are eligible to participate in the tender only on the condition of buying back pellets equivalent to the volume of fines supplied to KIOCL.
The 3 million mt per year KIOCL pellet plant located at Mangalore in southern state of Karnataka has been closed down owing to shortage of domestic availability of iron ore fines.