Indian merchant miner, Rungta Mines Limited has won the Jumka Pathiriposhi Pahar iron ore mine in Odisha at the auction held by the state government outbidding 13 others in the fray, government officials said on Tuesday, September 28.
The virgin mine across 1.57 square kms has an estimated reserves of 140 million mt with ore having average Fe content of 56 percent and exploration completed up to G2 level, the sources said.
Rungta won the mine submitting highest premium of 110.50 percent to the government, that is that the miner will need to pay INR 110.50 to the government for every transaction of INR 100 done from the mine.