According to sources close to SteelOrbis, MSPL, a flagship company of Baldota Group and a leading iron ore mining company in India is the highest bidder at a presently undisclosed amount for the Kanhaiyalal Dudheria Block in Karnataka. The block is estimated to have iron ore reserves of 9.26 million mt.
India’s Karnataka auction of iron ore blocks presently allows only for end-users engaged in the production of sponge iron, pig iron, steel or pellets to participate. SteelOrbis recently reported other successful bidders for the blocks presently in the market.