Indian government-run trading firm MMTC Limited will empanel iron ore traders to ensure broad-based sourcing of the raw material for state-run steel mill Neelachal Ispat Nigam Limited (NINL), company sources said on Friday, September 14.
MMTC Limited will be seeking to procure an estimated 80,000 mt of iron ore fines per month with a minimum Fe content of 62 percent from empanelled traders, the sources said.
Eligible traders will be selected based from the lowest bids submitted by them, the sources said.
The decision to empanel iron ore traders for supplies of raw material followed empanelment of private sector miners for supplying iron ore to NINL based on competitive bidding, and seeking supplies from traders will ensure higher volumes being made available to the steel mill at competitive prices, the sources added.
However, it was clarified that, if a private sector commercial miner is already selected by MMTC to make supplies, then traders sourcing iron ore from the same mine will not qualify to be empanelled as a supplier.